Radio One is at it again. Following on the recent acquisition of Bell Broadcasting Co., Radio One is continuing to dominate the Detroit area with its smooth sounds and stealth moves. The Lanham, Maryland-based broadcasting company is adding to its presence in Motown with the $27 million acquisition of Allur-Detroit Inc. Allur is the owner and operator of radio station WWBR-FM, which serves the metropolitan Detroit area.
“This acquisition will add to our presence in Detroit. And because Allur-Detroit is such a well-known company, they’ll add to the earnings of Radio One with diversity to our program content,” says Scott Royster, CFO and executive vice president of Radio One.
In addition to building their base in Motown, Royster says the company recently acquired WFUN-FM in St. Louis and plans to issue an IPO later this year.
“We’re studying the market right now because of the recent downturns,” he says. “But we still fully expect to go public later this year.”