Urban One Inc. announced Tuesday that it has signed a definitive asset purchase agreement with Emmis Communications to purchase its Indianapolis Radio Cluster.
Under the terms of the agreement, Silver Spring-based Urban One will acquire WYXB (B105.7FM), WLHK (97.1FM), WIBC (93.1FM), translators W228CX and W298BB (The Fan 93.5FM and 107.5FM) , and Indiana Network.
In anticipation of the transaction, Urban One will sell its WHHH station and WNOW-related intellectual property to a third party. Both the acquisition and divestiture are subject to Federal Communications Commission approval and other customary closing conditions, expected in the third quarter of 2022. Emmis will continue to operate its stations and Urban One will continue to operate WHHH until the closing of the transaction.
Urban One Inc., together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States.
The Company owns TV One LLC, a television network serving more than 59 million homes, offering a wide range of original programming, classic series and movies designed to entertain, inform and inspire a diverse audience of adult Black viewers.
As of December 31, 2021, the Company owned and/or operated 63 independent and revenue-generating broadcast stations (including 54 FM or AM stations, 7 HD stations and the 2 low-power TV stations we operate) under the “Radio One” in 13 urban markets in the United States.
Through its controlling interest in Reach Media Inc., it also operates syndicated programs including the Rickey Smiley Morning Show, the Russ Parr Morning Show and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information and entertainment, including its Cassius, Bossip, HipHopWired and MadameNoire digital platforms and brands.
It also invested in a minority stake in MGM National Harbor, the gaming complex located in Prince George’s County.