Urban One, Inc. (NasdaqCM:UONE.K) completed the acquisition of the assets of the radio station WTEM 980 AM from Red Zebra Broadcasting LLC.
August 09, 2018
Share
Urban One, Inc. (NasdaqCM:UONE.K) signed a definitive agreement to acquire the assets of the radio station WTEM 980 AM from Red Zebra Broadcasting LLC for $4.2 million on May 21, 2018. After the completion of the transaction, The Team 980 will continue to be locally owned. The transaction is subject to customary closing conditions, including pending FCC approval. The transaction is expected to close on or about August 09, 2018.
Urban One, Inc. (NasdaqCM:UONE.K) completed the acquisition of the assets of the radio station WTEM 980 AM from Red Zebra Broadcasting LLC on August 9, 2018.
Urban One, Inc. is an urban-oriented, multi-media company. The Companyâs core business is its radio broadcasting franchise, which is a radio broadcasting operation that primarily targets African American and urban listeners. The Company operates through four segments: Radio Broadcasting, Cable Television, Reach Media, and Digital. The Radio Broadcasting segment consists of all broadcast results of operations. The Reach Media segment consists of the results of operations for the related activities and operations of its syndicated shows. The Digital segment includes the results of its online business, including the operations of Interactive One, as well as the digital components of its other segments. The Cable Television segment consists of the Companyâs cable television (TV) operation, including the results of operations of TV One and CLEO TV. The Company owns and/or operates over 66 independently formatted broadcast stations located in 13 African American markets in the United States.
URBAN ONE, INC. 
