Radio One Board Authorizes $150 Mil Stock Buyback

Jun 6, 2005  •  Post A Comment

Radio One, the radio broadcaster that holds a 36 percent stake in cable channel TV One, on Monday said its board has authorized the company to launch a stock buyback program for up $150 million of its class A and class D common stocks.

The repurchase program, which lasts 18 months, is designed to goose the Lanham, Md.-based company’s shares, which, after trading at more than $16 a share in January, have fallen to around $13 a share in recent trading sessions.