Radio One, Inc. Updates 2001 Guidance

Company Meets Original BCF Guidance for First Quarter



Apr 17, 2001, 01:00 ET from Radio One, Inc.

    WASHINGTON, April 17 /PRNewswire/ -- Radio One, Inc. (Nasdaq:   ROIAK; ROIA)
 today released updated revenue and broadcast cash flow guidance for its fiscal
 year ending December 31, 2001.  With the adoption by the Securities and
 Exchange Commission of Regulation FD (Full Disclosure), the Company believes
 that it is necessary to provide this important information to all market
 participants.
     These estimates are based on current Generally Accepted Accounting
 Principles (GAAP) for the treatment of goodwill and other intangibles and do
 not consider any impact of the current Financial Accounting Standards Board
 (FASB) project on Business Combinations that may change the accounting
 treatment of goodwill and other intangibles, effectively increasing reported
 earnings per share for companies such as Radio One.  The Company anticipates
 recording approximately $110 million of annual amortization of goodwill and
 FCC licenses in 2001.  These estimates include expected results for only those
 stations owned and/or operated by the Company on this date.
     For the quarter ended March 31, 2001, the Company expects to report net
 revenue of greater than $47.5 million and broadcast cash flow (BCF) of
 approximately $21.5 million.  The Company expects to report that same station
 net revenue increased approximately 5% and pro forma net revenue increased
 approximately 6% in the first quarter.
     For the quarter ending June 30, 2001 the Company expects to report net
 revenue of approximately $64.0 million and BCF of approximately $34.5 million.
 For the fiscal year ending December 31, 2001, the Company expects to report
 net revenue of approximately $248.0 million and BCF of approximately $132.0
 million.  The Company continues to expect that Blue Chip Broadcasting will
 report full-year BCF of approximately $11.5 million although those results are
 not included in the revised guidance numbers outlined above.
     Commenting on the expected first quarter results and the revision to
 guidance for the balance of 2001, Alfred Liggins, the Company's CEO and
 President, stated, "We are very pleased that in a soft economy, and during a
 time when the radio industry overall is showing negative growth versus the
 prior year, we are able to grow our top line modestly, hold the line on our
 operating costs and meet our BCF guidance for the first quarter.  Through a
 combination of our focused acquisition and operational strategies and our
 market-leading position in many markets, we should post results in the first
 quarter that are among the best in the industry with regard to revenue growth
 over last year's very strong first quarter.  While the difficult comparisons
 continue into the second quarter we continue to feel that the second half of
 the year will be stronger than the first half."
     Any questions regarding the information contained in this press release
 will be addressed during a conference call scheduled for April 18 at 9:00 a.m.
 EDT.  Interested parties should call 847-413-3236 five minutes prior to the
 scheduled time of the call and ask for the "Radio One Revised 2001 Guidance
 Teleconference".  The conference call will be recorded and made available for
 replay from 12:15 p.m. the day of the call until midnight the day following
 the call.  Interested parties may listen to the recording by calling (800)
 475-6701 and entering passcode 582955.
 
     Radio One is one of the nation's largest radio broadcasting companies and
 the largest primarily targeting African-American and urban listeners.  Pro
 forma for all announced acquisitions and divestitures, the Company owns and/or
 operates 63 radio stations located in 22 of the largest markets in the United
 States.
 
     This press release may include forward-looking statements within the
 meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
 Securities Exchange Act of 1934. Because these statements apply to future
 events, they are subject to risks and uncertainties that could cause actual
 results to differ materially, including the absence of a combined operating
 history with an acquired company or radio station and the potential inability
 to integrate acquired businesses, need for additional financing, high degree
 of leverage, granting of rights to acquire certain portions of the acquired
 company's or radio station's operations, variable economic conditions and
 consumer tastes, as well as restrictions imposed by existing debt and future
 payment obligations. Important factors that could cause actual results to
 differ materially are described in the Company's reports on Forms 10-K and 10-
 Q and other filings with the Securities and Exchange Commission.
 
     For more information contact Scott R. Royster, Executive Vice President
 and Chief Financial Officer at 301-429-2642.
 
 

SOURCE Radio One, Inc.
    WASHINGTON, April 17 /PRNewswire/ -- Radio One, Inc. (Nasdaq:   ROIAK; ROIA)
 today released updated revenue and broadcast cash flow guidance for its fiscal
 year ending December 31, 2001.  With the adoption by the Securities and
 Exchange Commission of Regulation FD (Full Disclosure), the Company believes
 that it is necessary to provide this important information to all market
 participants.
     These estimates are based on current Generally Accepted Accounting
 Principles (GAAP) for the treatment of goodwill and other intangibles and do
 not consider any impact of the current Financial Accounting Standards Board
 (FASB) project on Business Combinations that may change the accounting
 treatment of goodwill and other intangibles, effectively increasing reported
 earnings per share for companies such as Radio One.  The Company anticipates
 recording approximately $110 million of annual amortization of goodwill and
 FCC licenses in 2001.  These estimates include expected results for only those
 stations owned and/or operated by the Company on this date.
     For the quarter ended March 31, 2001, the Company expects to report net
 revenue of greater than $47.5 million and broadcast cash flow (BCF) of
 approximately $21.5 million.  The Company expects to report that same station
 net revenue increased approximately 5% and pro forma net revenue increased
 approximately 6% in the first quarter.
     For the quarter ending June 30, 2001 the Company expects to report net
 revenue of approximately $64.0 million and BCF of approximately $34.5 million.
 For the fiscal year ending December 31, 2001, the Company expects to report
 net revenue of approximately $248.0 million and BCF of approximately $132.0
 million.  The Company continues to expect that Blue Chip Broadcasting will
 report full-year BCF of approximately $11.5 million although those results are
 not included in the revised guidance numbers outlined above.
     Commenting on the expected first quarter results and the revision to
 guidance for the balance of 2001, Alfred Liggins, the Company's CEO and
 President, stated, "We are very pleased that in a soft economy, and during a
 time when the radio industry overall is showing negative growth versus the
 prior year, we are able to grow our top line modestly, hold the line on our
 operating costs and meet our BCF guidance for the first quarter.  Through a
 combination of our focused acquisition and operational strategies and our
 market-leading position in many markets, we should post results in the first
 quarter that are among the best in the industry with regard to revenue growth
 over last year's very strong first quarter.  While the difficult comparisons
 continue into the second quarter we continue to feel that the second half of
 the year will be stronger than the first half."
     Any questions regarding the information contained in this press release
 will be addressed during a conference call scheduled for April 18 at 9:00 a.m.
 EDT.  Interested parties should call 847-413-3236 five minutes prior to the
 scheduled time of the call and ask for the "Radio One Revised 2001 Guidance
 Teleconference".  The conference call will be recorded and made available for
 replay from 12:15 p.m. the day of the call until midnight the day following
 the call.  Interested parties may listen to the recording by calling (800)
 475-6701 and entering passcode 582955.
 
     Radio One is one of the nation's largest radio broadcasting companies and
 the largest primarily targeting African-American and urban listeners.  Pro
 forma for all announced acquisitions and divestitures, the Company owns and/or
 operates 63 radio stations located in 22 of the largest markets in the United
 States.
 
     This press release may include forward-looking statements within the
 meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
 Securities Exchange Act of 1934. Because these statements apply to future
 events, they are subject to risks and uncertainties that could cause actual
 results to differ materially, including the absence of a combined operating
 history with an acquired company or radio station and the potential inability
 to integrate acquired businesses, need for additional financing, high degree
 of leverage, granting of rights to acquire certain portions of the acquired
 company's or radio station's operations, variable economic conditions and
 consumer tastes, as well as restrictions imposed by existing debt and future
 payment obligations. Important factors that could cause actual results to
 differ materially are described in the Company's reports on Forms 10-K and 10-
 Q and other filings with the Securities and Exchange Commission.
 
     For more information contact Scott R. Royster, Executive Vice President
 and Chief Financial Officer at 301-429-2642.
 
 SOURCE  Radio One, Inc.