1041657--3/15/2006--RADIO_ONE

related topics

{capital, credit, financial}

{acquisition, growth, future}

{product, market, service}

{regulation, government, change}

{personnel, key, retain}

{stock, price, operating}

We may lose audience share and advertising revenue to competing radio stations or other media competitors. If we are unable to successfully identify, acquire and integrate businesses pursuant to our diversification strategy, our business and prospects may be adversely impacted. We must respond to the rapid changes in technology, services and standards, which characterize our industry in order to remain competitive. The loss of key personnel, including on-air talent, could disrupt the management and operations of our business. Our growth strategy could be hampered by a lack of attractive opportunities or other risks associated with integrating the operations, systems and management of the radio stations we acquire. Our business depends on maintaining our licenses with the FCC. We could be prevented from operating a radio station if we fail to maintain its license. There is significant uncertainty regarding the FCC s media ownership rules, and such rules could restrict our ability to acquire radio stations. Increased enforcement by FCC of its indecency rules against the broadcast industry. Two common stockholders have a majority voting interest in Radio One and have the power to control matters on which our common stockholders may vote, and their interests may conflict with yours.

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1041657--3/15/2006--RADIO_ONE_INC