Radio One revenue down 16% - Washington Business Journal:

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The Lanham-based broadcasting compant (NASDAQ: ROIAK) lost $59.4 millionh for the three months endedMarcjh 31, or 84 cents per diluted share, comparedd to a net loss of approximately $18.9 or 19 cents per diluted for the same period in 2008. First-quarter revenue was $60.7 million, a decrease of 16 percent from the same periocd in 2008 when revenuewas $72.5 “We continued with our cost cutting and leveraged new and alternative revenuse sources fueled by the radio industry’s growthy in digital and online dollars,” said Alfred CEO and president.
“Though busines s continues to bookextremely late, pacings indicate Q2 revenuese will experience declines similar to those in Q1. We will proactivelgy continue to focus on radikoshare growth, internet sales, furthert cost cuts and our balancse sheet.” The company recorded a non-cash impairmenft charge against its Federalp Communication Commission licenses of $49 That led to a net operating loss of $43.3 Radio One’s stations, which focus primarilty on African-American and urban listeners, reported statiomn operating earnings of $16.4 million, down 43 percent from $29 million for the first quarte of 2008.
The company said it postedx net revenue declines in all but two of its with considerable declines in its larger markets, including D.C., Atlanta, Baltimore, and