Radio One Takes 4Q Dive
Feb 22, 2008, 8:00 AM
Radio One Inc. lost $386 million in the fourth quarter of 2007, compared with a $25 million loss in the same period in 2006. Fourth-quarter revenue was $78 million, down 5% from $82 million in the comparable quarter a year ago. The company said it adjusted 2006 numbers so that they account for discontinued operations. Radio One owns 54 radio stations that primarily target African-American and urban listeners. The company lost $387 million in 2007, about the same as it did in the fourth quarter.