Urban One signs $25M deal for Emmis Indianapolis radio cluster, expects Q3 2022 close

URBAN ONE, INC.

Definitive asset purchase agreement to acquire WYXB, WLHK, WIBC, translators, and Network Indiana from Emmis for $25M.
Transaction expected to be accretive to earnings; Urban One will sell WHHH and WNOW intellectual property to a third party.
Both acquisition and disposition subject to FCC approval and customary conditions; anticipated closing in Q3 2022.
Emmis to continue operating its stations and Urban One to operate WHHH until transaction closes.

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