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Urban One (UONE) is a radio and TV cable broadcasting company based in Silver Spring, Maryland specializing in broadcasting for Black-Americans. The company has revenues of about $400 million per year, essentially unchanged over the last four years. Free cash flow has been around $50 million per year and net income has varied (affected by non-cash write-offs). The company has debt and other liabilities of more than $1 billion and tangible assets of about $300 million. It is not a company that would interest serious long-term investors, nor is it likely to attract