Business
Radio One Inc., extends ownership of Reach Media – looking to launch a new Urban network in 2013
Radio One CEO and President Alfred Liggins and Reach Media CEO David Kantor have announced that Radio One Inc., will increase its ownership stake in Reach Media from 53 percent to 80 percent and consolidate its Syndication One Urban programming line-up with that of Reach Media. The move makes Reach Media the largest radio network targeting the African-American audience.
In 2013, Reach Media plans to use its affiliate lineup and relationships with Urban stations to also launch a new network. It will expand its dedicated sales and marketing staff to sell the radio network advertising inventory along with web and event sponsorships.
“Radio One has a commitment to be the leader in radio and online programming with compelling entertainment and information for the African-American audience,” said Radio One CEO and President, Alfred Liggins. “Combining our assets under Reach Media offers an incredibly broad platform for affiliate stations and advertisers to connect with our loyal audience.”
David Kantor, Reach Media CEO stated, “In bringing together the most compelling Urban programming in radio, we’ve created a platform that can focus on outstanding talent for our affiliates and the delivery of an incredibly responsive consumer base. We look forward to expanding our offerings and becoming the primary radio network for advertisers to reach African-Americans.” Reach Media will also represent sponsorship and integrated marketing opportunities created by its talent including online content, events and community initiatives.