Welcome to our dedicated page for Urban One news (Ticker: UONEK), a resource for investors and traders seeking the latest updates and insights on Urban One stock.
Urban One Inc (NASDAQ: UONEK) is a leading urban-oriented multimedia company providing culturally relevant content across radio, television, and digital platforms. This page serves as the definitive source for official news releases and verified updates about the company’s operations, financial performance, and strategic initiatives.
Investors and stakeholders will find timely information on earnings reports, partnership announcements, leadership updates, and market developments. All content is curated to provide clear insights into Urban One’s role as a key voice in urban media and its evolving business strategy.
Regular updates covering advertising innovations, programming expansions, and community initiatives ensure visitors stay informed about the company’s multifaceted operations. Content is organized chronologically for easy navigation and historical reference.
Bookmark this page to monitor Urban One’s progress in connecting with Black and urban audiences through its radio networks, digital platforms, and cable television programming. Check back frequently for new developments shaping this influential media company’s trajectory.
Urban One, Inc. (NASDAQ: UONEK and UONE) reported its Q1 2021 results, showing net revenue of $91.4 million, a 3.6% decline from Q1 2020. Operating income improved to $23.8 million compared to a loss of $27.3 million a year prior, while net income reached $7,000 or $0.00 per share, versus a loss of $23.2 million or $0.51 per share in 2020. Adjusted EBITDA was approximately $28.8 million, down 10.8% year over year. Core radio advertising fell 13.7%, but digital revenues surged 64.6%. The company anticipates further improvements in Q2, with core radio pacing up over 70% in April.
Urban One will host a conference call on May 12, 2021, at 10:00 a.m. EDT to discuss its first fiscal quarter 2021 results. U.S. callers can dial 1-844-291-6362, while international participants may call (+1) 234-720-6995 with access code 9323973. A replay will be available from 1:00 p.m. EDT on May 12 until 12:00 a.m. EDT on May 15. The company cautions that forward-looking statements in this release involve risks that could cause actual results to differ significantly from expectations.
Urban One reported a strong Q4 2020 performance with net revenue rising to approximately $113.5 million, a 7.3% increase year-over-year. Broadcast and digital operating income soared to $51.9 million, up 51.3%. The company achieved a net income of $26.4 million or $0.58 per share, bouncing back from a net loss of $7.9 million in Q4 2019. Adjusted EBITDA also increased significantly to $41.7 million. Liquidity remained robust with a cash balance of $73.9 million.
Urban One will host a conference call on March 18, 2021, at 10:00 a.m. EDT to discuss its 2020 fiscal year results. Investors can join by calling 1-844-291-6362 (U.S.) or (+1) 234-720-6995 (international) with access code 9323973. A replay of the call will be available from 1:00 p.m. EDT on March 18 until 12:00 a.m. EDT on March 21. The call will also be streamed on Urban One's website for seven days. Cautionary notes about forward-looking statements are included in the release.
Urban One priced an offering of $825 million in 7.375% senior secured notes due 2028, aimed at qualified institutional buyers. The offering is expected to close around January 25, 2021. Proceeds will be used to repay existing loans and notes, including the 8.750% Senior Secured Notes due December 2022. The notes will be unsecured and not registered under the Securities Act, limiting their sale in the U.S. This move aims to enhance financial stability by refinancing debt.
Urban One, Inc. (NASDAQ: UONE, UONEK) released preliminary financial results for Q4 and full year 2020. The company projects Consolidated Adjusted EBITDA between $137 million and $139 million, marking a 2.6% to 4.1% increase from 2019. However, full-year Consolidated Net Revenues are estimated at $373 million to $377 million, reflecting a decline of 13.7% to 14.6% year-over-year. Fourth-quarter net revenues are projected to be between $110 million and $114 million, a year-over-year increase of 3.9% to 7.7%. The radio segment benefited from political advertising, while digital EBITDA reached $4 million.
Urban One has announced the launch of an offering of $825 million in senior secured notes due 2028. These notes will be guaranteed by certain restricted subsidiaries and secured by priority collateral. Proceeds will be used to repay existing loans and redeem senior secured notes due in 2022. The offering is exempt from registration under the Securities Act and will only be sold to qualified institutional buyers. This move aims to streamline debt obligations and improve financial stability.
Urban One, Inc. has received Congressional commendations for its 40-year anniversary and significant impact on the media landscape. Congressional leaders acknowledged Founder Cathy Hughes and CEO Alfred Liggins III for their contributions during 2020, a year marked by social and economic challenges. Hughes was also inducted into the NABJ Hall of Fame. To commemorate its anniversary, Urban One established the Urban One Community Works foundation to support African American communities affected by COVID-19. Urban One is recognized as the largest media company targeting African American consumers in the U.S.
Urban One reported Q3 2020 net revenue of $91.9 million, down 17.2% year-over-year. Operating income fell to $4.0 million from $31.1 million in 2019, leading to a net loss of $12.8 million, or $0.29 per share. However, broadcast and digital operating income grew 1.3% to $44.2 million. Adjusted EBITDA increased by 2.3% year-over-year to $39.6 million, buoyed by strong political advertising revenues exceeding $20 million. The company maintained a solid cash position of $102.2 million and reduced debt by $25 million through recent bond exchanges.
Urban One has successfully completed its Exchange Offer for the 7.375% Senior Secured Notes due 2022, with $347,016,000 in Existing Notes tendered, representing 99.15% of the outstanding total. The Exchange Offer expired on October 30, 2020, and the settlement is expected on November 3, 2020. The process involved consent from at least 90% of existing noteholders and the execution of a supplemental indenture to amend existing restrictive covenants. Noteholders received early participation payments if conditions were met by the early tender date.
