Urban One President and CEO Alfred Liggins has signed an extension to remain with the radio and TV owner.
Liggins has signed a new contract that runs through December 31st and will feature automatic one-year renewals, according to a report from Inside Audio Marketing.
He will make an annual salary of $1.25 million, but with bonuses could reach well over $4 million in compensation. After helping to found the company’s TV One division, Alfred Liggins could receive 4.2% of any sale of the sector should the company pursue a sale.
The 59-year-old has been President of Radio One since 1989 and CEO since 1997. His mother — Cathy Liggins Hughes — founded the company in 1980 after purchasing WOL-AM in Washington D.C. He initially joined the company as an account manager in 1985.
Between radio and TV outlets, Urban One currently owns and operates 61 entities.
