One of America’s top Black executives, Alfred Liggins, the CEO of Urban One Inc., received a compensation package of $7.68 million from Urban One in 2022 for his significant contributions to the financial success of the Maryland-based American media conglomerate.
The compensation package, which underscores his role in the group’s financial performance in 2022, exceeded the previous year’s total reward of $7.16 million by 7.26 percent, thanks to the outstanding financial results achieved by the group in 2022.
Liggins — the only child of Cathy Hughes, the founder of Urban One — received a compensation package comprising a base salary of $1.25 million, complemented by a performance-based short-term incentive of $0.52 million, reflecting Liggins’s exemplary leadership at the helm of Urban One Inc.
In acknowledgment of his unwavering dedication, leadership prowess, and expertise in the entertainment and media industries, Liggins also received a long-term incentive award amounting to $1.7 million from the Maryland-based American media conglomerate.
Urban One’s evolution: Alfred Liggins’ visionary leadership and rise of Black-owned media
Urban One Inc., the largest distributor of urban content in the United States, has been a prominent voice for Black America for over 40 years. Originally a local radio network, it has evolved into the largest syndicator of urban programming and a Black-owned television network.
Joining Urban Inc. in 1985, Liggins progressed from account manager at WOL-AM to overseeing Urban One’s Washington, D.C., operations. He later chaired TV One and currently leads Radio One of Indiana.
Liggins demonstrated exceptional performance in the early years of his tenure with the group, culminating in his appointment as President and CEO of Urban One Inc. in 1997. In this role, he has overseen the company’s management, operations, and expansion into emerging markets.
This expansion includes spearheading new business ventures, overseeing acquisitions, and developing integrated business plans. Concurrently, Liggins has served on the boards of several organizations over the past decade.
Alfred Liggins’ 6.3-percent stake in Urban One hits $2.47 million
Under his leadership, the company has experienced significant growth. It recorded a 100percent increase in revenue in 2022, rising from $4.1 billion to $4.8 billion, while its assets grew by 0.71 percent, increasing from $1.33 billion in 2021 to $1.34 billion by the end of 2022.
In addition to his executive and governance roles, Liggins owns a substantial 6.30-percent stake in Urban One, which translates to a total of 620,918 shares — a stake presently valued at 2.47 million.