Urban One Inc., the Maryland-based media company known for its focus on African-American audiences, has announced a significant move in the broadcasting industry with the acquisition of four radio stations in Houston, Texas. Founded by prominent Black businesswoman Cathy Hughes, Urban One finalized a definitive agreement to purchase the stations from Cox Media Group (CMG).
The deal, finalized through a definitive agreement, includes 93Q Country KKBQ-FM, classic rock station The Eagle 106.9 & 107.5 KHPT-FM, and Country Legends 97.1 KTHT-FM. This move strengthens Urban One’s footprint in the Houston market, underscoring its commitment to serving diverse audiences across the United States.
The transaction, subject to regulatory approval and customary closing conditions, is expected to be finalized in Q3 2024. Upon completion, Urban One is positioned to become a major player in the Houston radio landscape, potentially attracting a broader audience and boosting advertising revenue.
Urban One expands broadcast presence
This acquisition aligns with Urban One’s long-term strategy of expanding its broadcast reach in key U.S. markets with significant African-American populations. Alfred Liggins, CEO of Urban One Inc. and Cathy Hughes’ son, hailed the partnership as a pivotal moment in the group’s strategic evolution.
Liggins emphasized that the acquisition would enhance Urban One’s business footprint in Houston, complementing its existing stations and offering the community a more diverse range of music and special event programming.
“Our current stations 97.9 ‘The Box’ and Majic 102.1 are market leaders, and combined with our new stations, allow us to strengthen our business footprint while offering the Houston community more diversified music and special event programming,” said Liggins.
Urban One: Leading African-American media group
Originally founded as Radio One in 1980 by Cathy Hughes, Urban One Inc. stands as one of the largest African-American-owned broadcasting companies in the United States. With a portfolio encompassing 55 radio stations, Reach Media, Interactive One, and TV One, Urban One specializes in media properties catering to African-Americans.
Hughes, a media maven and one of the wealthiest Black women in the United States, controls the Urban One empire alongside her son, Alfred Liggins. Their groundbreaking ventures have left an indelible mark on the industry, establishing Urban One as a prominent voice for Black America for over 40 years.
However, Urban One will need to divest some of its existing stations in Houston to comply with Federal Communications Commission (FCC) ownership regulations, which limit the number of radio stations a single entity can own in a single market.
Despite this limitation, the agreement sets the stage for long-term commercial expansion, with Urban One unlikely to face significant competition concerns as the acquired stations cater to different music genres than its existing holdings.
