Radio One 8-K teases Q4 results


Radio OneIn a 1/29 SEC 8-K filing posted after its proposed $335 million private offering, Radio One gave some preliminary details on its Q4 numbers. On 1/27, Radio One announced it intends to offer $335 million in aggregate principal amount of senior subordinated notes due 2020 in a private offering. The company intends to use the net proceeds from the offering to repurchase or otherwise redeem all of the amounts currently outstanding under its 12.5%/15.0% senior subordinated notes due 2016 and to pay the related accrued interest, premiums, fees and expenses.

From the 8-K:

“The Company expects that Radio Broadcasting and Reach Media net revenues for the three months ended December 31, 2013 will be down in the low single digits on a percentage basis compared to the same period in 2012 due to reduced local and national political advertising revenue. Excluding the effect of such reduced political spending, combined net revenues in these segments were up in the mid-single digits on a percentage basis.”