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Radio One, Comcast Join to Create Cable Channel for African-American Viewers.
Knight Ridder/Tribune Business News, July, 2003
By Andrea K. Walker, The Baltimore Sun Knight Ridder/Tribune Business News
Jul. 22--Radio One Inc. and Comcast Corp. said yesterday that four investment firms have agreed to back their joint venture to create a cable channel directed to African-American viewers.
The radio and cable companies said yesterday that they have signed contracts to help finance $131 million over four years with New York-based Constellation Ventures and three other venture groups that focus on minority- and woman-owned enterprises -- Texas-based Pacesetter Capital Group, Silver Spring-based Syndicated Communications Inc. and California-based Opportunity Capital Partners.
Radio One will invest $74 million, and Comcast and the four firms will together invest $57...
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