Radio One completes acquisition of WRDA-FM in the St. Louis market

(May 8, 2006) Radio One, Inc. has announced that it has completed the acquisition of the assets of radio station WRDA-FM, located in the St. Louis, Missouri market, for approximately $20.0 million in cash. The Company began operating the station under an LMA during the fourth quarter of 2005, at which time it changed the station's call letters to WHHL-FM and began programming the station with an urban contemporary format. The company borrowed $12.0 million under its bank credit facility to help fund the acquisition.

Commenting on the transaction, Radio One president and Chief Executive Officer Alfred C. Liggins, III stated, "This acquisition is yet another example of our prudent approach to acquiring radio stations in an uncertain environment for the industry. WHHL-FM complements our other station in St. Louis, and has already strengthened our competitive position in this large urban market."

Radio One, Inc. (www.radio-one.com) is the nation's seventh largest radio broadcasting company (based on 2005 net broadcast revenue) and the largest radio broadcasting company that primarily targets African-American and urban listeners. Including announced acquisitions, Radio One owns and/or operates 71 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 (www.tvoneonline.com), a cable/satellite network, programming primarily to African-Americans, which is a joint venture with Comcast Corporation and DIRECTV. Additionally, Radio One owns 51% of Reach Media, Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner, a leading urban media personality. Radio One also syndicates the only national African-American news/talk network on free radio and programs XM 169 The Power, an African-American news/talk channel on XM Satellite Radio.


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