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Urban One, Inc. Class D - UONEK STOCK NEWS

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Urban One Inc is an urban oriented, multi-media company. Its business is radio broadcasting franchise that is the radio broadcasting operation that targets African-American and urban listeners. It operates through the following segments: Radio Broadcasting, Reach Media, Digital, and Cable Television. The Radio Broadcasting segment includes all the broadcasting related operations. The Reach Media segment consists of the Tom Joyner Morning Show and its related activities. The Digital segment focuses on its online business, including the operations of Interactive One. The Cable Television segment deals with TV One's operations.

Urban One Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 59 million households, offering a broad range of original programming, classic series, and movies designed to entertain, inform, and inspire a diverse audience of adult Black viewers. As of June 07, 2024, we owned and/or operated 72 independently formatted, revenue-producing broadcast stations (including 57 FM or AM stations, 13 HD stations, and the 2 low power television stations) branded under the tradename 'Radio One' in 13 urban markets in the United States. Through its controlling interest in Reach Media, Inc. (blackamericaweb.com), the Company also operates syndicated programming including the Rickey Smiley Morning Show and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information, and entertainment websites, including its Cassius, Bossip, HipHopWired, and MadameNoire digital platforms and brands. We also have invested in a minority ownership interest in MGM National Harbor, a gaming resort located in Prince George's County, Maryland. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to the African American and urban audiences.

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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.

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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.

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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.

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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.

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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.

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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.

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Urban One, Inc. (UONEK; UONE) will host a conference call on November 12, 2020, at 10:00 a.m. EST to discuss its third fiscal quarter 2020 results. U.S. callers can join by dialing 1-877-226-8152, with international callers using (+1) 234-720-6982. A replay will be available from 1:00 p.m. EST on November 12 until 12:00 a.m. EST on November 15 via 1-866-207-1041 for U.S. callers. Access codes for participation are provided, and the call will also be available on Urban One's corporate website.

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Urban One launched ONE VIP, a digital financial solution tailored for Black consumers, on October 22, 2020. This first-of-its-kind product includes a prepaid debit card with an associated rewards program, allowing users to manage their accounts online or via a mobile app. Cardholders can earn points for purchases and contribute to the Urban One Community Works Foundation. Urban One pledges to donate $10 per account quarterly for active users. This initiative aims to empower the Black community and support charities focused on criminal justice reform and LGBTQ issues.

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Urban One announced that 99.15% of its 7.375% Senior Secured Notes due 2022, totaling $347 million, were tendered in an Exchange Offer. Eligible holders can exchange these notes for new 8.75% Senior Secured Notes, accompanied by cash payments. The settlement for the exchange is expected on November 3, 2020. The company aims to amend restrictive covenants in the existing notes' indenture. The Exchange Offer expires on October 30, 2020, and requires consent from at least 90% of holders for completion.

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Urban One, Inc. (NASDAQ: UONEK, UONE) announced a private offer to exchange its $350 million 7.375% Senior Secured Notes due 2022 for new 8.75% Senior Secured Notes. Approximately $260.7 million in Existing Notes, or 74.5%, have agreed to participate. The new notes aim to provide financial flexibility by extending maturity by eight months. Eligible holders will receive $1,000 in New Notes plus cash incentives based on when they participate. The exchange is contingent on receiving consents from at least 90% of Existing Notes holders.

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FAQ

What is the current stock price of Urban One Class D (UONEK)?

The current stock price of Urban One Class D (UONEK) is $1.084 as of November 8, 2024.

What is the market cap of Urban One Class D (UONEK)?

The market cap of Urban One Class D (UONEK) is approximately 51.7M.

What segments does Urban One operate through?

Urban One operates through Radio Broadcasting, Reach Media, Digital, and Cable Television segments.

What is the primary focus of Urban One's radio broadcasting franchise?

The radio broadcasting franchise targets African-American and urban listeners.

What are some of the subsidiaries of Urban One?

Subsidiaries include TV One, LLC, Reach Media, Inc., and iOne Digital.

What is the primary goal of Urban One's digital platform?

The digital platform serves the African American community through social content, news, information, and entertainment websites.

What sets Urban One apart in the media industry?

Urban One is a diversified media company that focuses on targeting Black Americans and urban consumers through various media platforms.

What recent achievements has Urban One reported?

Urban One reported net revenue of approximately $117.8 million for the quarter ended September 30, 2023, with an operating loss of approximately $56.1 million.

What is the financial performance of Urban One in recent years?

In the year ended December 31, 2023, Urban One reported net revenue of approximately $477.7 million, a decrease of 1.4% from the previous year.

What is the outlook for Urban One's financial performance?

Urban One reported Adjusted EBITDA of approximately $128.4 million for 2023, with optimistic expectations for political advertising revenues in the future.

How does Urban One engage with its audience?

Urban One provides a unique and powerful delivery mechanism to the African American and urban audiences through its national multi-media operations.

What recent challenges has Urban One faced?

Urban One received a second letter from Nasdaq regarding non-compliance with filing requirements, but is diligently working to resolve the issue.

Urban One, Inc. Class D

Nasdaq:UONEK

UONEK Rankings

UONEK Stock Data

51.72M
34.77M
55.63%
29.43%
0.09%
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