Radio One reports fourth quarter growth of 15% to $91.2 million

(February 23, 2006) Radio One, Inc. today reported its results for the quarter ended December 31, 2005. Net broadcast revenue was approximately $91.2 million, an increase of 15% from the same period in 2004. Operating income was approximately $30.1 million, a decrease of 21% from the same period in 2004. Station operating income(1) was approximately $43.7 million, a decrease of 6% from the same period in 2004. Net income applicable to common stockholders(2) was approximately $9.5 million or $0.10 per diluted share, a decrease of 30% from the same period in 2004.

Alfred C. Liggins, III (above), Radio One's CEO and President stated, "Our fourth quarter operating results were roughly in-line with the guidance we gave, which I feel good about, especially given the weakness experienced by the radio industry, which was down over 2% in the markets in which we operate. Going forward, we are hopeful that the radio industry will rebound in 2006, but at this point it is too early to tell. Given the uncertainty in the radio industry, we are very focused on diversifying our company into related businesses that will complement our core radio platform."

Mr. Liggins continued, "To that end, TV One is performing exceptionally well and Reach Media has been a tremendous addition. Furthermore, earlier this month, Radio One and Reach Media launched the nation's only African-American news/talk network, featuring Al Sharpton, Michael Eric Dyson and the Two Live Stews sports show out of Atlanta, Georgia. Later this year, you will hear more from us about our efforts to build a significant Internet business, as well as to create and acquire various types of urban content that can be monetized in a variety of ways.

”We believe that we have one of the most comprehensive and powerful portfolios of media and entertainment assets targeting the African-American market and we intend to use this market position to become the gateway for a vast offering of media and entertainment products and services for African-Americans throughout the United States."

Radio One, Inc. (www.radio-one.com) is the nation's seventh largest radio broadcasting company (based on 2004 net broadcast revenue) and the largest radio broadcasting company that primarily targets African-American and urban listeners. Pro forma for announced acquisitions, Radio One owns and/or operates 70 radio stations located in 22 urban markets in the United States and reaches approximately 14 million listeners every week. Radio One also owns approximately 36% of TV One, LLC and also owns 51% of Reach Media, Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show; Syndication One, which syndicates African-American news/talk programs.


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