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URBAN ONE, INC. ANNOUNCES REVERSE STOCK SPLIT
Prnewswire· 2026-01-16 13:30
Core Viewpoint - Urban One, Inc. has announced a reverse stock split of its common stock at a ratio of 10 for 1 to comply with Nasdaq's minimum bid price requirement for its Class D Common Stock [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect at 11:59 p.m. on January 22, 2026, with trading on a split-adjusted basis starting on January 23, 2026 [3]. - Every 10 shares of Class A and Class D Common Stock will be converted into one share of the respective class [4]. - No fractional shares will be issued; instead, stockholders will receive cash equivalent to the closing sales price on the Effective Date for any fractional shares [5]. Group 2: Impact on Shareholders - The reverse stock split will be applied uniformly across all classes of common stock, ensuring that stockholders' percentage of ownership and voting power remains unchanged, aside from minor adjustments due to fractional shares [6]. - The reverse stock split will not affect the company's underlying business operations or total stockholders' equity [6]. Group 3: Company Overview - Urban One, Inc. is the largest diversified media company targeting Black Americans and urban consumers in the U.S., owning TV One and operating 74 broadcast stations across major African-American markets [7]. - The company also has a controlling interest in Reach Media, Inc., providing syndicated programming, and owns iOne Digital, a platform serving the African American community through various digital brands [7].
URBAN ONE, INC. ANNOUNCES EXPIRATION AND FINAL RESULTS OF OFFERS AND CONSENT SOLICITATION
Prnewswire· 2025-12-16 02:23
Core Viewpoint - Urban One, Inc. has announced the expiration and final results of its offers to exchange and purchase existing senior secured notes, indicating strong participation from eligible holders and a strategic move to refinance its debt obligations [1][2]. Offer Details - The company offered to exchange its outstanding 7.375% Senior Secured Notes due 2028 for newly issued 7.625% Second Lien Senior Secured Notes due 2031 and cash [1]. - The tender offer aimed to purchase up to $185 million of the existing notes for up to $111 million in cash [1]. - Additionally, the company provided a subscription offer for up to $60.6 million in newly issued 10.500% First Lien Senior Secured Notes due 2030 [1]. Participation and Results - As of the expiration date, the company received valid tenders representing approximately $476.02 million, or about 97.580% of the existing notes outstanding [2]. - The tender offer was oversubscribed, with $475.52 million tendered by participants, leading to proration of accepted notes [3]. Supporting Noteholders - Prior to the expiration date, eligible holders subscribed to purchase approximately $4.4 million of the new first lien notes, with supporting noteholders expected to backstop the remaining $56.2 million [4]. Consent Solicitation - The company received the requisite consents from eligible holders to adopt proposed amendments to the existing notes indenture, which include eliminating restrictive covenants and modifying default provisions [5]. Conditions and Settlement - The consummation of the offers and consent solicitation is subject to certain conditions, including the performance of supporting noteholders under the transaction support agreement [6][7]. - The settlement date is expected around December 18, 2025 [7]. Company Overview - Urban One, Inc. is the largest diversified media company targeting Black Americans and urban consumers in the U.S., owning various media assets including TV One and multiple radio stations [11].
URBAN ONE, INC. ANNOUNCES EARLY RESULTS OF OFFERS AND CONSENT SOLICITATION
Prnewswire· 2025-12-02 02:14
Core Viewpoint - Urban One, Inc. has initiated offers to exchange and purchase its outstanding 7.375% Senior Secured Notes due 2028, with significant participation from Eligible Holders, indicating strong interest in the restructuring of its debt obligations [1][2]. Group 1: Offers Overview - The company announced three main offers: an Exchange Offer for existing notes, a Tender Offer to purchase up to $185 million of existing notes for cash, and a Subscription Offer for newly issued notes [1]. - The Exchange Offer involves exchanging existing notes for newly issued 7.625% Second Lien Senior Secured Notes due 2031 and cash [1]. - The Subscription Offer allows Eligible Holders to purchase up to $60.6 million in newly issued 10.500% First Lien Senior Secured Notes due 2030 [1]. Group 2: Participation and Tender Results - As of the Early Tender Date, approximately $450 million in existing notes, or about 92.2% of the total outstanding, were tendered by Eligible Holders [2]. - The Tender Offer was oversubscribed, with more existing notes tendered than the $185 million cap, leading to proration for accepted notes [3][13]. - Eligible Holders who participated in the Exchange Offer and Tender Offer received specific cash and exchange considerations based on their participation type [9][12]. Group 3: Consent Solicitation and Amendments - The company received the necessary consents from Eligible Holders to adopt proposed amendments to the indenture governing the existing notes, which include eliminating restrictive covenants and modifying default provisions [5]. - The proposed amendments will take effect only upon the successful completion of the Exchange Offer and Tender Offer [6]. Group 4: Key Dates and Conditions - The Offers and Consent Solicitation will expire on December 15, 2025, unless extended or terminated earlier [8]. - Eligible Holders must tender all existing notes they hold to participate in the Offers, and partial tenders will not be accepted [8]. - The consummation of the Offers is subject to certain conditions, including the performance of obligations by Supporting Noteholders [15].
Urban One, Inc. Third Quarter 2025 Results Conference Call
Prnewswire· 2025-10-14 20:36
Company Overview - Urban One, Inc. is the largest diversified media company targeting Black Americans and urban consumers in the United States [4] - The company owns TV One, LLC, which serves over 35 million households with a variety of original programming, classic series, and movies [4] - As of September 30, 2025, Urban One operates 74 independently formatted broadcast stations, including 57 FM or AM stations and 15 HD stations across 13 urban markets [4] - Urban One also has a controlling interest in Reach Media, Inc., which operates syndicated programming such as the Rickey Smiley Morning Show and the DL Hughley Show [4] - The company owns iOne Digital, a digital platform serving the African American community through various content and entertainment websites [4] Upcoming Events - Urban One will hold a conference call on November 4, 2025, at 10:00 a.m. EST to discuss its third fiscal quarter results [1] - U.S. callers can participate by dialing +1-888-596-4144, while international callers can dial +1-646-968-2525 with the Access Code 7822067 [1] - A replay of the conference call will be available from November 4, 2025, at 2:00 p.m. EST until November 14, 2025, at 11:59 p.m. EST [2]
Urban One, Inc. Second Quarter 2025 Results Conference Call
Prnewswire· 2025-07-24 13:00
Company Overview - Urban One, Inc. is the largest diversified media company targeting Black Americans and urban consumers in the United States [4] - The company owns TV One, LLC, which serves over 35 million households with a variety of original programming, classic series, and movies [4] - As of June 30, 2025, Urban One operates 72 independently formatted broadcast stations, including 57 FM or AM stations, 13 HD stations, and 2 low power television stations across 13 urban markets [4] - Urban One also has a controlling interest in Reach Media, Inc., which operates syndicated programming such as the Rickey Smiley Morning Show and the DL Hughley Show [4] - The company owns iOne Digital, a digital platform serving the African American community through various social content, news, and entertainment websites [4] Upcoming Events - Urban One will hold a conference call on August 19, 2025, at 10:00 a.m. EDT to discuss its second fiscal quarter results [1] - U.S. callers can participate by dialing +1-888-596-4144, while international callers can dial +1-646-968-2525, using Access Code 3660282 [1] - A replay of the conference call will be available from August 19, 2025, at 2:00 p.m. EDT until August 26, 2025, at 11:59 p.m. EDT [2]
Urban One, Inc. First Quarter 2025 Results Conference Call
Prnewswire· 2025-04-24 19:00
Company Overview - Urban One, Inc. is the largest diversified media company targeting Black Americans and urban consumers in the United States [4] - The company owns TV One, LLC, which serves over 37 million households with a variety of original programming, classic series, and movies [4] - As of March 31, 2025, Urban One operates 72 independently formatted broadcast stations, including 57 FM or AM stations, 13 HD stations, and 2 low power television stations [4] - Urban One also has a controlling interest in Reach Media, Inc., which operates syndicated programming such as the Rickey Smiley Morning Show and the DL Hughley Show [4] - The company owns iOne Digital, a digital platform serving the African American community through various websites and brands [4] Upcoming Events - Urban One will hold a conference call on May 13, 2025, at 10:00 a.m. EDT to discuss its results for the first fiscal quarter of 2025 [1] - A replay of the conference call will be available from May 13, 2025, at 2:00 p.m. EDT until May 20, 2025, at 11:59 p.m. EDT [2]