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Big news

http://phx.corporate-ir.net/phoenix.zhtml?c=63747&p=irol-newsArticle&ID=1128300&highlight=

Radio One, Inc. Announces the Acquisition of Social Media Network Community Connect Inc.

WASHINGTON--(BUSINESS WIRE)--April 10, 2008--Radio One, Inc. (NASDAQ:ROIAK and ROIA) today announced that it has acquired the social networking company, Community Connect Inc., for a transaction price of approximately $38 million dollars.

Community Connect Inc. (CCI), which owns and operates a number of social-networking brands under its umbrella including BlackPlanet.com, MiGente.com, and AsianAve.com, is the leading online niche social-networking company. With over 20 million members it is the 4th most visited US social networking property/publisher. (Hitwise January 2008).

"CCI is an innovator and pioneer in social networking," says Alfred Liggins, III, Radio One's CEO and President. "We believe that they are a great complement to our existing radio, TV, and online properties."

This acquisition is another example of Radio One, Inc.'s continued strategy of diversification outside of the radio broadcasting space in order to deliver a more holistic approach to targeting African Americans. Radio One purchased GIANT, a magazine targeting Urban consumers, in December, 2006 and has an interest in the African-American targeted cable network, TV ONE. This acquisition gives Radio One a strong foothold in the ever growing social networking and multicultural online space.

"We will be the clear number one in the African-American online space," said Mr. Liggins.

Analyst eMarketer predicts that by 2011, $4.1 billion will be spent worldwide for social network advertising, a dramatic increase from the $480 million spent in 2006. In 2008 alone, global ad spend in the social networking arena is expected to increase 75% year over year, amounting to $2.1 billion (eMarketer, Social Network Marketing: Ad Spending and Usage, December 2007).

"This is a great opportunity to take CCI to the next level," said Ben Sun, President and Founder of CCI. "Radio One reaches over 20 million people every week in radio, TV, print and online giving us the opportunity to capitalize on cross-platform opportunities for our brands that will truly benefit our members and advertisers."

"CCI's management team recognizes that the Internet is less about single destinations and more about connecting people, around touchpoints of culture and lifestyles. They have built incredible loyalty among their members," said Tom Newman, President of Radio One's Interactive division.

Upon closing the transaction current President and Founder Ben Sun will continue to run CCI and will report to Tom Newman. Community Connect Inc. has approximately 100 employees and is headquartered in New York City. Rothschild, Inc. acted as financial advisor to Radio One in connection with the transaction. Bear, Stearns & Co. Inc. acted as financial advisor to Community Connect Inc. in connection with the transaction.

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. Pro forma for recently announced transactions, Radio One owns and/or operates 53 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 and Reach Media, Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent management's current expectations and are based upon information available to Radio One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond Radio One's control, that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Radio one does not undertake to update any forward-looking statements.
    CONTACT: Radio One, Inc.
             Peter D. Thompson, EVP and CFO
             301-429-4638
             pthompson@radio-one.com

    SOURCE: Radio One, Inc.
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Congestion pricing defeated

The news is in, and it's bad: congestion pricing lost.

I think Mayor Bloomberg put it best:


"Today is a sad day for New Yorkers and a sad day for New York City. Not only won't we see the realization of a plan that would have cut traffic, spurred our economy, reduced pollution and improved public health, we will also lose out on nearly $500 million annually for mass transit improvements and $354 million in immediate federal funds.

"I will be speaking with Secretary Peters and will express my thanks for her commitment to innovative solutions to real problems facing large cities today. I will also express my deep disappointment that, sadly, even Washington, which most Americans agree is completely dysfunctional, is more willing to try new approaches to longstanding problems than our elected officials in the State Assembly. It takes true leadership and courage to embrace new concepts and ideas and to be willing to try something. Unfortunately, both are lacking in the Assembly today.

"If that wasn't shameful enough, it takes a special type of cowardice for elected officials to refuse to stand up and vote their conscience – on an issue that has been debated, and amended significantly to resolve many outstanding issues, for more than a year. Every New Yorker has a right to know if the person they send to Albany was for or against better transit and cleaner air. People know where I stood, and where members of the City Council stood. They deserved at least that from Albany."




Go Bloomy. I don't like everything he's done, by any means, but his PlaNYC and Congestion Pricing plan was genius and it makes me sick that it didn't pass. It's sad.

More:
http://www.streetsblog.org/2008/04/07/its-apparently-official-congestion-pricing-is-dead/
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Hilary Clinton: liar

Hilary Clinton apparently lied about her visit to Bosnia in a few ways.

First off, there was no sniper fire, and there was no panicked running to safety. Nor, in fact, was the ceremony moved inside due to the threat of sniper fire. The whole sniper fire thing is pretty much all imaginary. To put thing in perspective: the great American war-hero, Sinbad (that old stand-up comedian) described it as completely safe - yes, he was there at the ceremony. The corkscrew landing she described was also BS - apparently, they just landed faster than normal to minimize any potential threat of hostile fire. That was a standard precaution, though, and there was no known sniper (or other) fire.

Secondly, she wasn't the first high profile American to go into the country after the peace treaty. The list there includes Madeleine Albright, John Shalikashvili, Bill Perry, various members of Congress and President Clinton. Of course, if I recall correctly, she had specifically said that she went before her husband, so that's just complete BS.

View her shocking heroism here:


Read more about it at the latest of around 1000 articles discussing it here:
http://talkingpointsmemo.com/archives/185322.php

For the record: I used to like Hilary Clinton. I no longer do. For all of Obama's faults, I think he stands head and shoulders above her in many ways, and right now, I hope she goes down in flames. She has managed, by hook and by crook (and by that of course I'm referring to her campaign staff) to single-handedly lower the standards of the Democratic primary race to the level of the Republican party. Thanks, Hil.

In other unshocking news, John McCain is a lying (and incompetent) sack of sh*t but almost no one seems to notice:
http://www.washingtonmonthly.com/archives/individual/2008_03/013394.php

Talk about the media going easy on someone.

I hate politics in the U.S. On a good day, it's like taking a bath in sewage... and there are very few good days.
  • Current Mood: bitter
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Gary Gygax: DEAD

That headline either means a bunch to you or means nothing at all. I'm guessing a 20/80 split (with 80% of you having no idea who he is or why anyone would care).

(I don't actually care that much, honestly, but he's still an important figure in some ways and deserves some recognition of that.)
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WaPo: women are stupid.

http://www.washingtonpost.com/wp-dyn/content/article/2008/02/29/AR2008022902992.html

The title of the article is "We Scream, We Swoon. How Dumb Can We Get?". Ladies, the Washington Post thinks you're a bunch of idiots.

It's theoretically tongue-in-cheek, but... well, you can read it.

Update: I missed this earlier, apparently WaPo changed the title from calling women stupid, to just saying they act stupidly. Much better!

http://feministing.com/archives/008711.html