Home Music Industry News Radio One narrows loss – Washington Business Journal:

Radio One narrows loss – Washington Business Journal:

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Despite a much smaller loss in the fourth quarter, Radio One Inc. continued to the deteriorating radio advertising market and experienced a 7.1 percent drop in core radio revenues.

The Lanham-based broadcasting company lost $7.6 million, or 9 cents per diluted share, compared with a loss of $388.1 million, or $3.93 per diluted share, for the same period in 2007.

Fourth-quarter revenue was $74.3 million, a slight drop from $74.8 million recorded a year earlier.

The company recorded a non-cash impairment charge against its licenses, goodwill and other intangible assets of $85.3 million. That led to a net operating loss of $64.2 million.

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