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Radio One raises stake in Reach Media to 80% from 53%

On December 31, Radio One, through its wholly-owned subsidiary Radio One Media Holdings, completed the purchase of additional shares of Reach Media from certain minority shareholders. The purchase of the additional shares for Two Million Dollars, $2M, increases the company’s ownership in Reach Media from approximately 53% to 80%. Effective, January 1, 2013, the company consolidated its Syndication One Urban programming line-up within the Reach Media operating unit.