Radio One Inc. is on the move. Or is that on the split? The Lanham, Md.-based radio-group owner said last Monday that its board has declared a 3-for-1 stock split. The move is appropriate, Radio One President Alfred C. Liggins III said in a statement, because of "the significant price increases in the company's common stock since our initial public offering in May 1999."
The two shares, to be given to each holder of one share, will be newly created non-voting Class D common stock, which must be accepted for listing on Nasdaq. That is expected by mid-June. Radio One went public at $24 per share; it closed last Wednesday at $69.4375, down 28% from the 52-week high of $96.50 it hit on Jan. 10. Date of record for the split is May 30.
Also last Monday, Radio One said it will get $750 million in credit from Bank of America to help finance the $1.3 billion worth of stations the company recently bought from Clear Channel Communications Inc. (B & C, May 15). Earlier this month, Radio One was named Black Enterprise magazine's Company of the Year.
At Trylon SMR, we are dedicated Public Relations professionals solely serving clients in the media, technology, telecommunications, and related industries. We understand the specialized types of audiences our clients need to reach and the best...
more
CDNetworks is a top tier, full-service, global content delivery network providing technology and services that enable fast, efficient, reliable delivery of content anywhere in the world. With more than 90 points of presence across 6 continents...
more
Rovi Corporation is focused on revolutionizing the digital entertainment landscape by delivering solutions that enable consumers to intuitively connect to new entertainment from many sources and locations. The company also provides extensive...
more
Akamai provides market-leading managed services for powering rich media, dynamic transactions, and enterprise applications online. Having pioneered the content delivery market one decade ago, Akamai's services have been adopted by the world's most...
more
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from...
more
In this week's edition of B&C Tech Talk, senior editor Glen Dickson talks about Scripps Television becoming the latest station group to consolidate its graphics operations with Chyron's Internet-based Axis system
