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Radio One, Inc. Announces Definitive Agreement To Sell The Assets Of WJKR-FM In Columbus

COLUMBUS, Ohio, Oct. 23, 2012 /PRNewswire/ -- Radio One, Inc. (Nasdaq: ROIAK; ROIA) today announced it has signed a definitive agreement to sell the assets of one of its Columbus, Ohio radio stations, WJKR-FM (The Jack, 98.9 FM), to Salem Media of Ohio, Inc., a subsidiary of Salem Communications (Nasdaq: SALM).  The station is not a core asset for Radio One and Radio One will continue to own and operate two urban format radio stations in the Columbus market: WCKX-FM (107.5 FM), which plays mainstream/urban and WXMG-FM (106.3 FM), which plays R&B and oldies.  The closing on the sale of WJKR-FM is subject to customary conditions, prorations and adjustments, including approval from the Federal Communications Commission ("FCC"). Radio One expects the transaction to close shortly after final consent from the FCC. However, under a local marketing agreement, Salem will be providing programming for the station on November 1, 2012.

(Logo: http://photos.prnewswire.com/prnh/20090806/PH57529LOGO )

About Radio One

Radio One, Inc. ( http://www.radio-one.com/) is a diversified media company that primarily targets African-American and urban consumers. The Company is one of the nation's largest radio broadcasting companies, currently owning and/or operating 55 broadcast stations located in 16 urban markets in the United States. As a part of its core broadcasting business, Radio One operates syndicated programming including the Russ Parr Morning Show, the Yolanda Adams Morning Show, the Rickey Smiley Morning Show, CoCo Brother Live, CoCo Brother's "Spirit" program, Bishop T.D. Jakes' "Empowering Moments", the Reverend Al Sharpton Show, and the Warren Ballentine Show. The Company also owns a controlling interest in Reach Media, Inc.( http://www.blackamericaweb.com/), owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner. Beyond its core radio broadcasting business, Radio One owns Interactive One ( http://www.interactiveone.com/), an online platform serving the African-American community through social content, news, information, and entertainment, which operates a number of branded sites, including News One, UrbanDaily, HelloBeautiful, Community Connect Inc. ( http://www.communityconnect.com/), an online social networking company, which operates a number of branded websites, including BlackPlanet, MiGente, and Asian Avenue. In addition, the Company owns a controlling interest in TV One, LLC ( http://www.tvoneonline.com/), a cable/satellite network programming primarily to African-Americans.

About Salem Communications

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