Radio One Queen Sets Record Straight on Finances

Cathy Hughes, founder of Radio One

Cathy Hughes has been a part of the heartbeat of black radio for a long time.  She’s come a long way from one small radio station in Washington, D.C. at Howard University to her empire of now more than 50 radio stations throughout the U.S.  One of the most popular shows airing on her stations is Tom Joyner’s Morning show which reaches approximately 20 million per week.

She has been a lone crusader lately on the new legislation that John Conyers, (D-Mi.), has supported called the “Performance Rights Act.”  She is livid that she has to pay more to the record companies because of this bill that she knows the performers are not getting paid from.  She knows and has been quite vocal about the scam she feels Conyers is supporting.  But, she has taken criticism about more than her crusade against this Act.  She asked for a reverse stock split and financial analysts lost it!  

She gave them all a piece of her mind though through an article in the Atlanta Post.  She set the record straight once and for all to let folks know that she is on the side of the people that have helped her build her radio empire to what it is today.  She’s trying to survive the recession herself, so there is no big story with her reverse stock split, which she was given permission to enable.

She simply sees herself as a girl scout as it pertains to the Performance Rights Act because she wants others to be aware that Sound Exchange is not delivering the monies to the performers it claims to wants to see get paid.  In fact, she tells us in the interview with the Post that they get to pocket the money after a three year waiting period if no one has come forward to receive it. 

Read the full interview here.

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