Revenue during the quarter dropped 7.15 percent to $101.29 million from $109.09 million in the previous year period. Gross margin for the quarter contracted 32 basis points over the previous year period to 68.51 percent. Total expenses were 83.76 percent of quarterly revenues, up from 82.76 percent for the same period last year. That has resulted in a contraction of 100 basis points in operating margin to 16.24 percent.

Operating income for the quarter was $16.45 million, compared with $18.81 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $27.74 million compared with $30.73 million in the prior year period. At the same time, adjusted EBITDA margin contracted 78 basis points in the quarter to 27.39 percent from 28.17 percent in the last year period.

Alfred C. Liggins, III, Radio Ones chief executive officer and President stated, "A combination of tough political comps in radio, and non-recurring major client spending at Reach Media, made for a weak start to the year in radio advertising. TV One ratings held up well overall (+4% Household, and flat 24-54 total day), although we were down in the younger-end demographic. Despite this, we were able to post growth in Adjusted EBITDA for the division. Our digital business will be bolstered by the acquisition of the Bossip and Madame Noire brands, which will be immediately accretive. MGM National Harbor continues to perform well, and we have accrued approximately $1.5 million of income in the first quarter. We remain committed to growing our cash flow in 2017, despite the slow start to the year. Our name change to Urban One will become effective on May 5th, and will better reflect our diversified multimedia platform."