Radio One today reported its results for the quarter ended June 30, 2011. Net revenue was approximately $97.1 million, an increase of 29.3% from the same period in 2010. Station operating income (1) was approximately $34.8 million, an increase of 22.5% from the same period in 2010. The Company reported operating income of approximately $15.8 million compared to operating income of approximately $13.8 million for the same period in 2010. The Company recorded a non-cash pre-tax gain of approximately $146.9 million resulting from its increased ownership and controlling interest in TV One which led to net income of approximately $98.6 million or $1.94 per share, compared to net income of approximately $2.0 million or $0.04 per share for the same period in 2010. Radio One core radio revenue fell 3% during the second quarter. CEO Alfred Liggins says the company suffered from “difficult competitive situations” in Dallas and Houston, and sluggish economic recovery in its Midwest markets. Liggins anticipates radio revenues to “remain relatively flat” in third quarter.