One, Inc. (NASDAQ:ROIAK and ROIA) today announced that it has filed an
application to transfer the listing of the Company's Class A Shares from The
NASDAQ Global Market to The NASDAQ Capital Market. The Company filed the
application on August 18, 2008. The Company expects to receive NASDAQ's approval
decision within the upcoming weeks and expects to maintain its current NASDAQ
Global Market status pending approval of the transfer application. The Company
believes it is eligible to transfer to The NASDAQ Capital Market, although there
can be no assurance that the transfer will be approved.
As previously announced on May 21, 2008, the Company received a letter from
The NASDAQ Stock Market notifying the Company that for the prior 30 consecutive
trading days, the Company's Class A Shares had not maintained a minimum market
value of publicly held shares of $5,000,000 as required for continued inclusion
by Marketplace Rules. The notification did not and does not affect the Class D
Shares which represent over 96 percent of the Company's outstanding public
In accordance with Marketplace Rules, the Company was provided 90 calendar
days, or until August 19, 2008, to regain compliance with respect to the Class A
Shares. The Company was not able to demonstrate compliance by August 19, 2008.
The Company expects to maintain its current NASDAQ Global Market status pending
approval of the transfer application. The Company's Class A Shares maintain
their right to convert into Class D Shares.
Radio One, Inc. (www.radio-one.com) is one of the nation's largest radio
broadcasting companies and the largest radio broadcasting company that primarily
targets African-American and urban listeners. Radio One owns 52 radio stations
located in 16 urban markets in the United States. Additionally, Radio One owns
Magazine One, Inc. (d/b/a Giant Magazine) (www.giantmag.com), interests in TV One, LLC (www.tvoneonline.com), a
cable/satellite network programming primarily to African-Americans, Reach Media,
Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show
and other businesses associated with Tom Joyner, and Community Connect Inc. (www.communityconnect.com), an online social-networking
company, which operates a number of branded websites, including BlackPlanet,
MiGente, and Asian Avenue.