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Urban One, Inc. (NASDAQ: UONE) stands as the largest distributor of urban content in the United States, serving as a pivotal voice for Black America for over 35 years. Initially emerging as the premier local urban radio network, Urban One has expanded its footprint to become the largest syndicator of urban programming and the foremost African-American owned television network. The company also excels as a distributor of digital urban content, reaching an unparalleled 82% of Black America through its diverse media platforms.
Urban One's operations span several key segments: Radio Broadcasting, Reach Media, Digital, and Cable Television. The Radio Broadcasting segment encompasses 72 revenue-producing broadcast stations across 13 urban markets, including iconic brands like Radio One. Reach Media includes syndicated programming such as the Rickey Smiley Morning Show and DL Hughley Show, while the Digital segment is anchored by iOne Digital, featuring popular platforms like Cassius, Bossip, and HipHopWired. The Cable Television segment is headlined by TV One, a network that reaches more than 59 million households.
In recent developments, Urban One reported a net revenue of approximately $477.7 million for the fiscal year ending December 31, 2023. This marks a slight decline from the previous year, attributed primarily to challenges within the cable television segment, including subscriber churn and lower ratings. Despite these hurdles, the company’s radio broadcasting and Reach Media segments witnessed revenue growth, bolstered by strategic acquisitions in Indianapolis and Houston.
Facing financial scrutiny, Urban One has addressed several compliance issues with the Nasdaq Stock Market LLC. The company has proactively filed delinquent reports and presented compliance plans to maintain its listing status. Furthermore, Urban One continues to explore innovative content delivery solutions, catering to a wide array of advertisers aiming to reach the urban and African-American demographic.
Urban One's forward-looking strategy involves leveraging its diverse media assets to drive deeper engagement with its audience while navigating industry-wide challenges. The commitment to
Urban One (NASDAQ: UONEK; UONE) has announced a conference call for investors and analysts to discuss the results of the fourth fiscal quarter of 2023 and the first fiscal quarter of 2024. The call is scheduled for June 10, 2024, at 4:30 p.m. EDT. U.S. participants can dial 1-844-291-5494, while international callers can use +1-409-207-6995 with Access Code 9666446. A replay of the call will be available on the same day from 7:30 p.m. EDT until June 17, 2024, by dialing 1-866-207-1041 or +1-402-970-0847 with Access Code 1372800. Additionally, the live audio and replay will be accessible on Urban One's website.
Urban One, Inc. (UONE) announced on May 24, 2024, that it received a second delinquency notification from Nasdaq on May 23, 2024. This notice is due to the failure to file the Q1 2024 Form 10-Q on time, adding to the previously unfiled 2023 Form 10-K. The company must file these documents by June 7, 2024, or submit a compliance plan to Nasdaq. If accepted, the plan might extend the deadline to September 30, 2024. Urban One is working to meet the June 7 deadline to avoid the need for a formal plan. Currently, there is no immediate impact on the stock's Nasdaq listing, but failure to comply could lead to delisting.
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