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Target Market News has introduced Black Business Chicago, a new monthly which will spotlight news and features on Chicago's African-American businesses, corporate executives and local economic issues. The publication will also be supplemented by a Web site, blackbusinesschicago.com, that will provide updated coverage of relevant business news on a daily and weekly basis between issues of the monthly print publication. Click for more ____________________________________

Buying Power report: Blacks spend as economy grows
New 16th edition shows $507 bil in spending



The finding comes from the 16th annual edition of "The Buying Power of Black America" report. In 2009, black households spent an estimated $507 billion in 27 product and services categories. ...

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Radio One reports another quarter of strong growth, thanks to radio division

Radio One last week reported second quarter growth for the company remained strong. CEO Alfred C. Liggins, III reported operating income of approximately $21.5 million for the quarter ending June 30th, compared to operating income of approximately $15.8 million for the same period in 2011. The radio division was up over 6 percent compared to the second quarter of 2011. The first quarter also saw an increase of over 6 percent.

"I was pleased with our second quarter core radio revenue growth of 6.5% year over year.,” said Liggins. “While the timing of the One Love Gospel Cruise and other corporate revenues brought the headline radio revenue growth rate down to 2.7%, I believe we strongly outperformed the markets in which we operate. We expect this trend to continue into the third quarter, where we are currently pacing up high single digits, with political revenues likely to strengthen as we move closer to the Presidential election.”

The top Radio One markets for Q2 were Baltimore (up 16.5%), Raleigh (up 16.3%), Atlanta (up 8.5%), Washington, D.C. (up 5.9%) and Houston (up 2.2%).

"Our Internet division had a somewhat weaker than expected second quarter, with a lack of tent-pole events around which to build revenue. I expect their progress towards profitability to resume in the third quarter."


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