Revenue Declines Reason Mayo is Gone?
Officially, Mayo who has served as President of Radio for Radio One since August 2007, resigned to pursue other opportunities. However, Radio One revenues have been disappointing over the past few quarters, blamed on the economy and format changes, and Mayo may have been the one to have to fall on the sword. It seemed odd that Mayo was not on the last Radio One earnings call, a call in which Radio One CEO Alfred Liggins said he was shocked by the perfornace of his Radio division. No replacement has been announced yet by Liggins.
Mayo and Radio One released a joint statement about the split. Mayo said, "Partnering with Alfred and helping to execute his vision has been a rewarding experience, and I am proud of what we have accomplished. I am grateful for the support shown me during my tenure. While I will miss the relationships forged, I am truly looking forward to the next phase of my career."
Radio One's CEO Alfred Liggins and President said, "Barry has been an integral member of Radio One's executive management team for nearly five years, and he has served the Company with passion and distinction. I am grateful for Barry's contributions to the success of the Company's initiatives, particularly given the challenging economic environment. I understand, however, that there comes a time for change in a person's career, and I fully respect Barry's decision to undertake new challenges. I truly wish him well."
Prior to joining Radio One, Mr. Mayo served as a consultant to the Company through his firm Mayomedia, a media consulting firm specializing in urban markets. Mayo has held numerous senior management positions during his 30 plus years in the industry. He began as a program director and he helped create one of the largest urban stations in the country, WRKS-FM, in New York. Three years after joining the programming staff at WRKS-FM, Mr. Mayo became Vice President and General Manager of that station. In 1988, he and a group of partners founded Broadcast Partners. While Mayo served as President, Broadcast Partners grew into an eleven-station, publicly traded company with stations in Dallas, New York, Chicago and Charlotte. In 1995, Mayo sold his share of Broadcast Partners and founded Mayomedia. In 2003, he was recruited back to New York to become the Senior Vice President and Market Manager for Emmis. He left Emmis Radio in 2006 to resume his consulting career and began working with Radio One in July 2006 as a consultant.
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