Urban One Explains Brigade’s Share Sale


As RBR+TVBR has been reporting exclusively, Brigade Capital Management‘s Cayman Islands-based leveraged capital structures fund has sold off all of its shares in Urban One.

This has resulted in wild gyrations in trading for the media company’s Class A and Class D shares, with a $12 after-hours price seen as of Wednesday’s 4:40pm ET editorial deadlines.

Until now, the reason for Brigade’s sale was not publicly known. Urban One just changed that.

Please Login to view this premium content. (Not a member? Join Today!)