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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 increases stake in Reach Media, makes plans to launch a new Urban network

(December 3, 2012) Radio One CEO and President Alfred Liggins and Reach Media CEO David Kantor have announced that Radio One will increase its ownership stake in Reach Media from 53% to 80% and consolidate its Syndication One Urban programming line-up with that of Reach Media. The move makes Reach Media the largest radio network targeting the African-American audience.

In 2013, Reach Media plans to use its affiliate lineup and relationships with Urban stations to also launch a new network. It will expand its dedicated sales and marketing staff to sell the radio network advertising inventory along with web and event sponsorships.

The combination will consolidate several of the largest Urban formatted shows into the same company. Its foundation is the leading Urban talent that include Tom Joyner (pictured), Rickey Smiley, Russ Parr, Yolanda Adams, Reverend Al Sharpton, Warren Ballentine and CoCo Brother. Future plans include the acquisition and development of additional popular Urban talent. 

"Radio One has a commitment to be the leader in radio and online programming with compelling entertainment and information for the African-American audience," said Radio One CEO and President, Alfred Liggins. "Combining our assets under Reach Media offers an incredibly broad platform for affiliate stations and advertisers to connect with our loyal audience."

David Kantor, Reach Media CEO stated, "In bringing together the most compelling Urban programming in radio, we've created a platform that can focus on outstanding talent for our affiliates and the delivery of an incredibly responsive consumer base. We look forward to expanding our offerings and becoming the primary radio network for advertisers to reach African- Americans." Reach Media will also represent sponsorship and integrated marketing opportunities created by its talent including online content, events and community initiatives. 

Reach Media, Inc. was founded in 2003 by Tom Joyner and David Kantor. It is a cross-platform media company featuring radio, online, events and initiatives relevant to the African-American community. The company provides the nation's #1 syndicated urban morning show, The Tom Joyner Morning Show, which airs in more than 105 markets reaching nearly 8 million listeners, distinguishing itself over the years as continuously giving back to its audience with quality programming, highly popular promotions, special events and philanthropy.

Joyner's website, BlackAmericaWeb.com, has more than 1.5 million registered users and delivers news with exclusive reports as well as interactive elements with on demand audio. Reach Media, Inc. also executes The Allstate Tom Joyner Family Reunion, The Tom Joyner Foundation Fantastic Voyage Cruise and Tom Joyner's Take a Loved One to the Dr. Day health initiative.

Radio One, Inc. is a diversified media company that primarily targets African-American and urban consumers. The company is one of the nation's largest radio broadcasting companies, currently owning and/or operating 55 broadcast stations located in 16 urban markets in the United States. As a part of its core broadcasting business, Radio One operates syndicated programming including the Russ Parr Morning Show, the Yolanda Adams Morning Show, the Rickey Smiley Morning Show, CoCo Brother Live, CoCo Brother's "Spirit" program, Bishop T.D. Jakes' "Empowering Moments", the Reverend Al Sharpton Show, and the Warren Ballentine Show.

Beyond its core radio broadcasting business, Radio One owns Interactive One, an online platform serving the African-American community through social content, news, information, and entertainment, which operates a number of branded sites, including News One, UrbanDaily, HelloBeautiful, Community Connect Inc., an online social networking company, which operates a number of branded websites, including BlackPlanet, MiGente, and Asian Avenue. In addition, the Company owns a controlling interest in TV One, LLC, a cable/satellite network programming primarily to African-Americans.


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