Radio One recording in red


Bear Stearns thought Radio One’s Q3 results were a little better than expected; others thought they underperformed; but whether or not you were an optimist or pessimist heading in, there’s no denying the company was down year-over-year. Net revenues decreased 1.7% to 90.4M, and would have been a bit worse were it not for the performance of magazine Giant. Continuing challenges at KKBT-FM in Los Angeles were a large part of the problem, not to mention difficult comps caused by lack of political revenue this time around. The bottom line was a 3.7% drop in same-station results. The company is well into its program of spinning off non-core radio properties, with closure on about 130M worth of value and another 20M of so to go. The company said itsbasic cable offering TV One was doing very well.Lincoln boosts dividend Lincoln Financial Group has boosted its dividend by two cents per share to 41.5 cents. It’s the 25th straight year that the company has increased its dividend. The higher dividend will be paid February 1, 2008, to shareholders of record on January 10th.