Urban One Unable to File First Quarter Operating Results
Urban One files a notification of late filing with the Securities Exchange Commission explaining the reason it has not filed its 2022 year-end 10-K (and other forms), as well as its first quarter 2023 10-K. The company says, “On April 7, 2023, Urban One, Inc. (the “Company”) announced that in connection with the preparation of its financial statements for the year ended December 31, 2022, the Company’s management, in consultation
with its independent registered public accounting firm, re-evaluated the Company’s accounting for the valuation of its investment interest in MGM National Harbor (the “MGM Interest”), which the Company sold for cash proceeds of approximately $136.8 million on April 21, 2023. After further review of the Company’s accounting for its MGM Interest, it was determined that adjustments are required to the Company’s financial statements as of January 1, 2021 and for each of the annual and interim periods ended December 31, 2021 and September 30, 2022 (the “Affected Periods”), due to understatements in the value of the MGM Interest… The Company’s management concluded that in light of the error described above, a material weakness exists in the Company’s internal control over financial reporting for the Affected Periods. The Company’s remediation plan with respect to such material weakness will be described in more detail in the 2022 Form 10-K. Due to the Company’s continued efforts in connection with the Restatement, preparation of the 2022 Form10-K and continued assessment of its internal controls, the Company is not able to finalize the financial statements and related information for inclusion in its quarterly report on Form 10-Q for the quarter ended March 31, 2023 (“2023 Q1 Form 10-Q”). Accordingly, the Company is unable to file its 2023 Q1 Form 10-Q within the prescribed time period.”
March 2023 PPM Data – Information for the March 2023 ratings period has been released for Portland, Charlotte, San Antonio, Sacramento, Pittsburgh, Salt Lake City, Las Vegas, Orlando, Cincinnati, Cleveland, Kansas City, Columbus, Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford.
platforms since 2021. Outkick founder Clay Travis says, “Dan has been instrumental in the success of OutKick and I’m thrilled to have him on board. Every day his high energy, humor, and bold opinions drive fans to the platform and create awareness of the great content produced by OutKick.” Dakich comments, “I’ve had so much fun hosting my show with OutKick and am excited to keep it rolling. The team is tremendous and allows me to not only speak my mind but shed light on the most compelling sports news of the day. I can’t thank OutKick enough for giving me this platform.”
compliance with the Nasdaq Listing Rule, the Company’s common stock will be subject to delisting. Under the Nasdaq rules, the company has 60 calendar days to file the 2022 Form 10-K or to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the company’s plan, then Nasdaq may grant the Company up to 180 days from the prescribed due date for filing the 2022 Form 10-K to regain compliance. If Nasdaq does not accept the company’s plan, then Urban One will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. The company says it is working diligently and expects to file its 2022 Form 10-K within the 60-day period. Previously, Urban One notified the SEC that it had identified material weaknesses in its internal control over financial reporting and as a result, expected some of its internal controls over financial reporting and disclosure controls would be ineffective as of December 31, 2022. The Annual Report on Form 10-K for 2022 will describe these material weaknesses, and the company is implementing plans to remediate them.”
Sessions, followed by NPR Member Stations (77,381 AAS) at #2 and Audacy (54,141 AAS) at #3. Other commercial radio firms in the top 30 ranker this month include: Cumulus Streaming Network (40,953 AAS) at #4, Beasley Broadcasting Corporate (40,953 AAS) at #6, Hubbard Broadcasting (15,540 AAS) at #8, Urban One (10,281 AAS) at #10, and Salem Communications (8,533 AAS) at #12. 
February 2023 PPM Data – Information for the February 2023 survey period has been released for Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford.
for cash and it should get $145.5 million at the time of settlement. At the same time, Urban One is notifying the SEC that is unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 before the March 16 deadline. The company says it expects to file the report within the 15-day extension period. Urban One adds, “The company noted it expects its auditor will issue an unqualified opinion on the consolidated financial statements. The company has identified material weaknesses in the company’s internal control over financial reporting and as a result, expects some of its internal controls over financial reporting and disclosure controls will be ineffective as of December 31, 2022. The Annual Report on Form 10-K for the year ended December 31, 2022 will describe these material weaknesses, and the company is implementing plans to remediate them.”
pandemic. His expertise in national and global affairs was immediately recognized and appreciated by the WBT audience, but it was his fair analysis of the day’s news and his whole-hearted support of the Charlotte community in those difficult times that allowed him to become a welcomed part of the lives of the audience.” Winterble comments, “From the moment I walked into the legendary WBT Radio it felt like home. I am so 
thankful for the welcome and support I received from our clients, listeners, and incredible staff over these past three years. I am truly honored to continue this relationship with the best creators in the business. I am particularly grateful for the support of Urban One/Radio One, and Marsha Landess, Alfred Liggins, David Kantor, Mike Schaefer, and Kraig Kitchin in helping me to realize this professional dream. I can’t wait to see what the future holds for all of us.”
#2 (77,602 AAS), and Audacy at #3 (58,527 AAS). Other commercial broadcasters making the top 30 include Cumulus Streaming Network at #4 (40,999 AAS), Beasley Broadcasting Corporate at #6 (18,862 AAS), Hubbard Broadcasting at #8 (14,792 AAS), Urban One at #11 (9,601 AAS), and Salem Communications at #12 (8,244 AAS). 
The fourth of four rounds of ratings data from Nielsen Audio’s January 2023 PPM survey has been released for 12 markets including Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford. Nielsen’s January 2023 sweep covered January 5 – February 1. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. Urban One’s news/talk WIBC-FM, Indianapolis comes back from the Holiday survey with a 1.5 share increase to post a 7.2 share (weekly, 6+ AQH share) but remains ranked #3. In Milwaukee, iHeartMedia’s news/talk WISN-AM adds eight-tenths to finish the survey with a 9.6 share that lifts it to the #1 rank, while Good Karma Brands’ crosstown news/talk WTMJ-AM adds 1.3 shares to wrap the survey with a 7.5 share but remains anchored in the #5 spot. In Nashville, Cumulus Media’s news/talk WWTN-FM tacks on 1.3 shares to finish with a 6.2 share, good for the #6 rank, while iHeartMedia’s crosstown news/talk WLAC-AM is off two-tenths, finishing with a 1.0 share and the #19 rank. 
spoke to a lot of Hoosiers, a lot of folks in Indianapolis, in part parts of the city, Republicans, Democrats, and Libertarians for that matter and their eyes just lit up. A very nice lady, she donated $5. She said ‘Abdul, that’s all I can afford to give, I really want you to be mayor.’ It’s for people like that who are of limited mean, who don’t have a lot to give, and just want to feel better about where they live.” Shabazz is a weekend host on WIBC-FM and is founder and publisher of IndyPolitics.org. He formed an exploratory committee late last year to look into the feasibility of a campaign for mayor. He joins Pastor James Jackson on the GOP ticket in the May primary.
of a diverse audience while continuing to illuminate Black voices.” Chief executive officer Alfred C. Liggins III says, “For over 42 years, Urban One has understood the need for Diversity, Equity, and Inclusion, especially in sharing our varied experiences. We are proud to be a leader with the largest African American footprint in the media space. As the needs and concerns constantly evolve, we are dedicated to helping brands understand, connect, and best translate to Black and Brown communities. In our next iteration, iONE Digital will continue to be a catalytic force in media.” The company says, “iOne Digital portfolio focuses on key passion points and interests, including men’s and women’s lifestyle, sports, beauty, fashion, and entertainment. The iONE portfolio is comprised of Cassius, HelloBeautiful, MadameNoire, Bossip, NewsOne, GlobalGrind, HipHopWired, BlackAmericaWeb and Elev8; plus the social network for urban millennials, BlackPlanet, and three YouTube brands – The Fumble, Hollyscoop, and Nerdwire… Looking to the future, iONE Digital has also immersed their visual identity into the world of audio and podcasting by conceptualizing a ‘video first’ approach centered around the amplification of the all-new Urban One Podcast Network – a platform which iONE helps to fuel by bringing a wide range of podcasts to life.”
Holiday 2022 PPM Data – Information for the Holiday 2022 survey period has been released for Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford.
The third of four rounds of ratings information from Nielsen Audio’s Holiday 2022 PPM survey has been released for 12 markets including Portland, Charlotte, San Antonio, Sacramento Pittsburgh, Salt Lake City, Las Vegas, Orlando, Cincinnati, Cleveland, Kansas City, and Columbus. Nielsen’s Holiday 2022 sweep covered December 8 – January 4. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Portland, Alpha Media’s news/talk KXL-FM loses 1.4 shares to finish the survey with a 6.0 share (weekly, 6+ AQH share) and falls to the #5 rank, while iHeartMedia’s news/talk KEX declines nine-tenths for a 2.2 share finish that puts it in the #16 spot. Urban One’s news/talk WBT-AM/FM, Charlotte is steady with a 3.7 share but rises to the #10 rank in the market. In Salt Lake City, Bonneville’s news/talk KSL-AM/FM sheds seven-tenths, finishing the survey with a 4.6 share but rises to the #5 rank, while iHeartMedia’s crosstown news/talk KNRS-AM/FM drops 2.3 shares for a 4.4 share finish that drops it to the #6 rank. Audacy’s news/talk KDWN-AM, Las Vegas adds 1.3 shares for a 2.3 share finish that pushes from the #26 rank to #16. And in Orlando, iHeartMedia’s hot talk WTKS-FM is down a full share for a 5.1 share finish and the #7 rank, while Cox Media Group’s news/talk WDBO-AM adds three-tenths to finish with a 4.6 share that boosts it to the #8 rank. 
Industry Mourns Jim Bohannon. Veteran talk radio host Jim Bohannon has died at age 78, at the Prisma Health Cottingham Hospice House in South Carolina after losing a hard fought battle with esophageal cancer. He was born January 7, 1944 in Corvallis, OR, where his father was stationed in the U.S. Army during WWII. After the war, the family moved back to their home town to Lebanon, MO, where Jim grew up and graduated from Lebanon High School in 1962. He attended Missouri State University in Springfield, MO, before joining the military. His service in the 
