Dec 1, 9:20 PMUrban One today announced early results of its debt exchange/tender: 92.2% of 2028 notes (~$450M) were tendered, the $185M tender is oversubscribed, and requisite consents were obtained to amend the indenture including eliminating covenants and releasing liens.
Urban One, Inc. is a multi-media company, which engages in radio broadcasting that targets African-American and urban listeners. It operates through the following segments: Radio Broadcasting, Reach Media, Digital, Cable Television, and All Other-Corporate and Eliminations. The Radio Broadcasting segment includes all the broadcasting related operations. The Reach Media segment consists of the results of operations for the related activities and operations of the company's syndicated shows. The Digital segment focuses on its online business, including the operations of Interactive One. The Cable Television segment deals with TV One and CLEO TV operations. The company was founded by Catherine L. Hughes in 1980 and is headquartered in Silver Spring, MD.
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