Radio One – the All Black, all the time radio network reported earnings on Tuesday. Revenues were down 8.9% (no Obama Campaign Bucks in 2009). The net loss more than doubled including a $17 million write down of the value of the station licenses.. Maybe Radio One should consider switching a few stations to Country Music or carrying Glenn Beck….
Radio One has friends in high places – they were on the verge of bankrupcty a year ago – their stock was around $0.40 per share and facing delisting by Nasdaq. Then the penny stock traders started trading the stock without regard to any fundamentals, and now the stock is about $3.00 a share. Keep an eye on ROIAK tomorrow as the earnings report sinks in…, (or not)
