Late last week, one of their biggest shareholders dumped all their Urban One stock.
Then yesterday, the Urban One stock went through the roof. Go figure.
The company is choking on debt.
They’re the only black-owned radio company with the word “urban” that even the Grammys and iHeart are rebuking as racist and outdated euphemism for genres such as hip-hop and R&B.
Someone knows something that is making the public markets this optimistic about a black-owned urban radio and TV company.
One speculated buyer has been identified and if this is to be the new owner, all the Urban One optimism could be worth it.