Urban One Media buys Emmis Communications Indianapolis Cluster Radio Stations

FOR IMMEDIATE RELEASE

URBAN ONE ENTERS INTO AGREEMENT WITH EMMIS TO PURCHASE INDIANAPOLIS RADIO STATIONS

SILVER SPRING, MD. – June 13, 2022 – Urban One, Inc. (NASDAQ: UONEK; UONE) today announced it had signed a definitive asset purchase agreement with Emmis Communications to purchase its Indianapolis Radio Cluster. Under the terms of the agreement, Urban One will acquire WYXB (B105.7FM), WLHK (97.1FM), WIBC (93.1FM), translators W228CX and W298BB (The Fan 93.5FM and 107.5FM), and Network Indiana.

“These are terrific general market formats (Best Variety, Country, News and Sports) and will be a great addition to Urban One in a transaction that is accretive and deleveraging” said Alfred

Liggins, President and CEO, Urban One.

In anticipation of the transaction, Urban One will sell its WHHH station along with the intellectual property related to WNOW to a third party. Both the acquisition and disposition are subject to

Federal Communications Commission (“FCC”) approval and other customary closing conditions, anticipated in the third quarter of 2022. Emmis will continue to operate its stations and Urban

One will continue to operate WHHH until the transaction closes.