We’ll soon know a lot more about the performance of TV One. The Urban cable channel has always been managed by Radio One, but now it is going to be majority owned by Radio One and reported on a consolidated basis with the radio company – rather than as a private company.
Radio One said it expects to begin to account for TV One on a consolidated basis once certain approvals from other members of TV One have been received. The publicly traded Radio One said it expects to receive these approvals by no later than April 30th.
Also, Radio One announced that it expects that TV One will redeem the ownership interests held by DirecTV on or about April 30, 2011. One effect of the redemption will be to increase the ownership interests of the remaining members, increasing Radio One’s ownership to approximately 50.8 percent, pushing it to the majority ownership status.