Urban One, Inc. Class D Common Stock
UONEKUrban One, Inc. Class D (UONEK) is a media and entertainment company focused on African American consumers, offering a diverse portfolio of radio broadcasting, digital media, and event businesses. It operates numerous radio stations across various markets, providing culturally relevant content, and extends its reach through digital platforms and multimedia initiatives aimed at underserved audiences.
Company News
Urban One is offering to exchange its existing 7.375% Senior Secured Notes due 2028 for new 7.625% Senior Secured Notes due 2031, along with a tender offer to purchase up to $185 million in notes and a subscription offer for new first lien senior secured notes.
Urban One reported a 16% revenue decline across all segments, reduced full-year EBITDA guidance, and experienced challenges in radio broadcasting, digital media, and reach media due to decreased advertising demand and DEI spending.
