Radio One Agrees to Sell WILD-FM In Boston

The Company acquired WILD-FM in October, 1999 for approximately$10.0 million and expects to utilize its existing NOLs to sheltermost, if not all, taxes associated with the capital gain that will begenerated by the sale. For the most recent trailing 12-month period,WILD-FM had approximately $2.3 million of net revenue and operated atan approximately break-even level, after taking into account directexpenses and allocated expenses incurred in the Boston market for theCompany's two radio stations.

Commenting on this transaction, Radio One President and ChiefExecutive Officer Alfred C. Liggins, III stated, "This sale representsa very good start to our asset disposition process. While Boston is awonderful radio market, it is not of great strategic importance to us.We will use the capital generated from this sale to reduce ourleverage while we continue to look to rationalize our asset base."

Radio One, Inc. (www.radio-one.com) is the nation's seventhlargest radio broadcasting company (based on 2005 net broadcastrevenue) and the largest radio broadcasting company that primarilytargets African-American and urban listeners. Pro forma for announcedacquisitions, Radio One owns and/or operates 71 radio stations locatedin 22 urban markets in the United States and reaches approximately 14million listeners every week. Additionally, Radio One owns interestsin TV One, LLC (www.tvoneonline.com), a cable/satellite networkprogramming primarily to African-Americans and Reach Media, Inc.(www.blackamericaweb.com), owner of the Tom Joyner Morning Show andother businesses associated with Tom Joyner. Radio One also operatesthe only nationwide African-American news/talk network on free radioand programs "XM 169 The POWER," an African-American news/talkchannel, on XM Satellite Radio.