Liggins Takes Over Mayo's Duties
March 21, 2012: In an 8k filing with the Securities and Exchange Commission, Radio One said CEO Alfred Liggins (pictured) will "assume Mr. Mayo's duties" -- that is, take over the duties formerly handled by just-departed Radio Division President Barry Mayo. When Mayo's resignation was announced Monday, Radio One didn't make any mention of whether or by whom he would be replaced.
The same SEC filing on Wednesday included the press release that went out March 15 with Radio One's fourth-quarter results; on that day's Q4 conference call, Liggins called the radio division's performance "shocking." He said, "We had an awful fourth quarter. We dropped millions of dollars in cash flow off our radio division, and 60 percent of it came in Q4."
Mayo's resignation was effective March 16.
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