Radio One and Reach Media parent Urban One Inc. issued its Q2 2026 financial report today.

Urban One noted net revenue of $85.8 million down 6.4% from the same period last year with an operating loss of $11.2 million for the quarter. Broadcast and digital operating income fell by $3.5 million to $22.2 million for the quarter. The company’s net loss of $7.1 million was down from $77.9 million in Q2 2025. Adjusted EBITDA was approximately $11.7 million for the three months compared to approximately $14 million for the same period last year.

Urban One President/CEO Alfred Liggins III commented, “We saw some sequential improvement in the second quarter compared to the first quarter, with lower rates of revenue decline. Cable Television was down 7.4%, Digital was down 8.4%, Radio was down 3.9%, and Reach Media dropped by 10.6%. In Radio, our Miller Kaplan local Radio revenues were down 10.1% year-over-year vs. the market down 7.8%; and national was down 1.5% vs. the market down 4.6%. Including local digital, second quarter Radio revenue was down 4.9%. We did approximately $1.4 million in gross political advertising in the second quarter. Radio third quarter is pacing down 2.8%. We remain in a turnaround situation at Reach Media, where we continue to be impacted by a weak marketplace, key client attrition and sales team re-building. We continue to closely manage cash flows from operations, with concerted efforts to collect receivables and manage discretionary vendor spend. During the three months ended June 30, 2026, the Company repurchased approximately $23.5 million of its 2031 Second Lien Notes at a weighted average price of approximately 42.0% of par. Year-to-date, that is a total reduction in long-term debt of $60.2 million for an annual interest savings of $4.6 million and an increase in short-term debt of $10.0 million. During the quarter we completed the disposition of WLNK and WMXG in Charlotte. Our revised Adjusted EBITDA guide for 2026 is now in the mid-fifty-million dollar range, given the realities of the current marketplace.”