off a Los Angeles radio station in April, which allowed them to expand their internet portfolio. Interactive One, a branch of the company that was launched a little over a year ago is growing positively.
“They are learning that having a core radio business is not a sustainable strategy at this point. When you are a radio-based media company in a market like this, you need other revenue streams,” says Hampp, who is encouraged that Radio One’s internet business is up 8% and that its growth is pacing up 20% for the fourth quarter.
However, the company’s discontinuation of the employee 401(k) program and reduced stock compensation expenses under their new employment agreement is another sign that Radio One is stretched thin.