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Things don't look good for Urban 1

DarrenVision said:
so much for a Richmond Casino, but can a Audacu, UONE merger might be realized?
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There has been some speculation about Urban One merging its radio stations with Cumulus. I haven’t studied which markets already have both present; I do know that such a combination would force a spinoff in DFW (hello EMF or Hope Media Group?) but they would still be under the cap in Houston.
 
Mediafrog+ said:
There has been some speculation about Urban One merging its radio stations with Cumulus. I haven’t studied which markets already have both present; I do know that such a combination would force a spinoff in DFW (hello EMF or Hope Media Group?) but they would still be under the cap in Houston.
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swaps with Cumulus and iheart might work particularly in richmond but how about the TVONE and CleoTV
 
Mike Sheridan said:
Things do not look good for the owners of WFNZ, WBT, and WLNK.

radioinsight.com

Urban One Receives Delisting Notice From Nasdaq

Radio One parent Urban One Inc. has reported it has received a notice from Nasdaq that it faces delisting for
radioinsight.com radioinsight.com
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Apparently they had a number of changes in their accounting system due to multiple operating modifications, including the filings for a casino in DC, changes in the impact of their loss of a franchise application for a casino at Richmond, VA as well as the incorporation of the Emmis stations in Indianapolis in their portfolio.

The EBITDA in 2021 was $191 million. EBIT was $121 million. This is hardly a company in trouble, as it has free cash flow well within the requirements for debit service.
 
Y'all are reading too much into it. There were a lot of changes last year, and they just need more time to get the report done. U1 is not going out of business or selling.
 
TheBigA said:
Stock price on Friday was $7.70. The company is in fine shape. Just need to file a form 10-K. NBD.
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Wrong. Filing reports timely with the SEC is a big deal, which is why NASDAQ is threatening to delist the company.

It points to serious mismanagement. The only other companies I can recall who missed filing their annual reports timely were Enron and Sears in their dying days.
 
PTBoardOp94 said:
The only other companies I can recall who missed filing their annual reports timely were Enron and Sears in their dying days.
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We refer to that as selective memory. You have no other negative financial information to lump Urban One with those other companies. In fact, in December, the CEO said they have lots of cash on hand.

www.insideradio.com

Look For Urban One To Buy More Of Its Stock And Pay Down Debt.

At the end of September, Urban One had $105.1 million in unrestricted cash on its hands. During its third quarter results call last month, CEO Alfred Liggins seemed uncertain about
www.insideradio.com www.insideradio.com

The company has until June to file, and they say they will meet that deadline.
 
TheBigA said:
We refer to that as selective memory. You have no other negative financial information to lump Urban One with those other companies.
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Nowhere did I imply anything about 'negative financial information.' But this does put Urban One in some infamous company.

Feel free to point out other companies which have been financially healthy and not in the midst of an accounting scandal when they failed to timely file their regulatory reports with the SEC.

The company has until June to file, and they say they will meet that deadline.
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The filings were due March 31st. They are currently in the midst of 15 days of grace from the Securities and Exchange Commission, and 60 days grace from NASDAQ.

If they exceed the 15 days of grace from the SEC, they may be subject to fines or other enforcement actions, including (eventual) delisting.
 
Funny how these groups buy and buy stations and eventually run into financial difficulty saying they can't afford to operate them. Not saying that applies to Urban One.
 
Mike Sheridan said:
Funny how these groups buy and buy stations and eventually run into financial difficulty saying they can't afford to operate them. Not saying that applies to Urban One.
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Circumstances change in ways people can't predict. In the case of radio, ad revenues cratered during the pandemic. Then inflation drove up operating costs beyond what was expected. But in the case of Urban One, they were invested in things other than radio.
 
TheBigA said:
Urban One is now expanding its Houston cluster as it buys stations from Cox.

www.insideradio.com

Cox Media Group Sells Houston Cluster To Urban One.

Urban One has inked a deal to acquire Cox Media Group’s Houston radio cluster: Country “93Q KKBQ-FM, the classic rock “Eagle 106.9 & 107.5” simulcast of KHPT-FM and KGLK-FM, and
www.insideradio.com www.insideradio.com
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I always wonder why Cox sold the WSOC radio stations but kept the Channel 9 TV station. Channel 9 is a strong news leader but the FM signal on 103.7 has always been a historically top performing country music station radio station. But I could maybe understand them dropping the weaker AM station. In Atlanta they kept all of their flagship stations for WSB radio and TV, but sold off the newspaper the AJC.
 
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