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By Suzanne

Urban One executives group 1 

Interview with Urban One Executives 5/11/17

Final Transcript
RADIO ONE, INC.: Urban 1’s Content Call
May 11, 2017/11:30 a.m. EDT

SPEAKERS
Yashima White AziLove
D’Angela Proctor
Jay Stevens
Dwayne Whitaker
Kierna Mayo
Marve Frazier
Tuwisha Rogers
Kim Bandell

PRESENTATION

Moderator Ladies and gentlemen, thank you for standing by. Welcome to the Urban One’s Content Call. At this time, all participants are in a listen-only mode. Later, there’ll be an opportunity for questions. [Operator instructions]. As a reminder, this call is being recorded. I’d now like to turn it over to Yashima AziLove. Please go ahead.

Yashima Thank you, operator, and good morning. Thank you all for joining us on today. I’m Yashima White AziLove, the vice president of corporate communications for Urban One, Inc. That sounds so good to me. I haven’t had a chance to say that yet, and I have the distinct pleasure of hosting you all on today.

My peers and I, whom I’ll introduce to you all just shortly, are all so excited to hold our first Urban One press conference call this morning, and we’re thrilled that each of you are here. For starters, this marks the culmination of what’s been a two-year journey of development to rename and rebrand our great company, but most importantly, it marks a really pivotal point in our company’s 36-year-old history.

We are proclaiming, but really we have been for some time quite frankly, but that our corporate name never quite exemplified, and that is we are the largest African-American owned multimedia company in the country. We opted to officially change our name on last Friday, May 5th because it was symbolic for us. On May 5th, it commemorated the 18th anniversary of Radio One’s IPO.

We were just a radio company then when our shareholders first believed in us, and 18 years later, it was a combination of our shareholders and our employees who urged our CEO, Alfred C. Liggins that it was time to change our name to more adequately reflect the multimedia powerhouse that we had become. We knew we would keep the word “one” in our name due to its deep marketing connotations. It invokes the spirit of being first in class, but the question was, what do we do with the radio?

Well, for clarity, Radio One is a legacy name, and one in which we have not departed from. Radio One refers to our vast local radio network of 57 broadcast stations in 15 markets. Our CEO chose the word “urban” in short due to its inherit ability to encompass all things black. Mr. Liggins often says we’re in the black people business, and we believe that black culture is sexy, it’s hot, it’s appealing, and we know that black culture impacts every area of American life.

It’s been mimed, borrowed, stolen, embraced, and included in mainstream culture with urban enthusiasts and lovers of black culture for many, many years. Our name Urban One says that we are fully owning this space, and we produce in every area of our business content that gives voice to black culture, thus our tagline, “representing black culture.”

With that, I want to give you an opportunity to hear from each of brilliant minds representing programming, content, and marketing areas of our diversified business, so you can hear about these capabilities and the enthusiasm that we have around our new name and our integrated go-to-market strategy moving forward.

First up we have TV One, which is under the direction of Brad Siegel and is distributed into 59 million households. We have a highly respected and well-awarded producer and programmer of black content on the line, Ms. D’Angela Proctor, our senior vice president of programming at TV One. Take it away.

D’Angela Wow. I’ve never been announced in such fashion. Thank you. Much appreciated, Yashima.

First and foremost, I’m going to have a conversation with you guys about where we are in terms of our programming strategies as reflected in our recent upfront announcement. We’re giving you more, plain and simple. We’re giving you more of what the audience is seeking.

That means more live programming in the morning, three hours of live content, two hours being that of News One Now where we’re expanding the program from one hour to two. We’re also adding a third hour of live programming in a soon-to-be-announced partnership for a live program.

Number two, we’re giving you more of true crime and justice. That’s two nights of original programming under the true crime and justice bucket. We’ve been hugely successful with the launch of Fatal Attraction. It is a juggernaut whenever it comes on. On any day part, it works for us.

We’ve added For My Man, and we’ve also added a few more additions to the network that you will see coming shortly. For the most part, For My Man is a huge success for the network as well, and we’re going to take those two programs and light up a second night of original programming under the true crime and justice bucket.

Third, we’re giving you more family reality. This year we premiered The Manns. The Manns will continue to join Rickey Smiley For Real as two of our real families, and real for us is more than just real. It is relatable, engaging, authentic, and loving, and in the case of Roland Martin because we have him on the air, it can be loud sometimes.

Just as an example of that, Roland’s rants and Roland digging into a few personalities have led to some significant Facebook video posts. Our highest rated video post has been the interview of Dr. Hadiyah Green. It garnered 12.6 million Facebook views. Following that is the Wendy Williams controversy about historically black colleges and universities. There were 8.5 million views there, 7.4 million views on patriotism and the Colin Kaepernick controversy followed by the White Nationalist controversy of 5.4 million views.

As you can see, we don’t only program and contemplate content being on air in a linear television fashion. We are a content company. It’s no longer satisfactory for a television network to only be in the linear television business.

Our content is now platform agnostic. We put our content wherever the audience is, and going forward, we have a TV One app that we’ll be launching this year that will include live streaming, next day viewing of recent episodes. We’ll also allow our audience to access our library content. We’re excited about this three-fold content approach.

We’re looking forward to creating more videos that include behind the scenes, after shows, digital miniseries to go along with our television programs, and we hope to increase our footprint in the social media space as well. Thank you for your time.

Yashima Thank you. See, that’s why I introduced you like that. See all that stuff TV One is doing under your leadership, so thank you so much for that, D’Angela.

Next we’re going to bring it home to Radio One, our legacy business and our syndication network Reach Media under the direction of David Kantor, and collectively, our radio group reaches approximately 22 million listeners a week. We see over one million people at our awesome events during the year, so it’s a pleasure to present to you a radio industry veteran, Mr. Jay Stevens, who’s our senior vice president of programming for Radio One and Reach Media. Jay?

Jay Thanks, Yashima. Between Radio One and Reach Media, we have some of the biggest African-American talent in the country, and our talent are not only big brands, but many have a strong social media following as well, and in the case of Rickey Smiley and D. L. Hughley are also major TV stars, and in the case of Erica Campbell, major music stars. In fact, as D’Angela just mentioned, Rickey’s reality show on TV One, Rickey Smiley For Real, is one of the highest rated shows on our network. We’re always looking for new ways to have our talent super-serving the community whether it’s live appearances in our various cities with our local talent or the Tom Joyner Family Reunion. Touching our listeners face to face in person is very, very important.

With our integration, we have the ability to use our talent across all our platforms and that same ability to sell across all platforms, so we become one-stop shopping for our clients and our listeners, engaging them with deep content. We also have some very, very major events, some of the biggest events in the country in fact. We have the Tom Joyner Fantastic Voyage. We have Women’s Empowerment, Birthday Bash, the earlier mentioned Family Reunion, and many other events in our markets.

We now have all parts of our organization participating. For example, on the cruise, we’re broadcasting live with Tom and the show, and we’re also capturing the concerts and the parties and all the excitement on the cruise, some things that maybe shouldn’t be publicized on the cruise, and we post that content in real time.

At Birthday Bash, we had a digital lounge. We have all the artists hanging out backstage. We post onstage content, backstage content, interview content, as well as we’re broadcasting live. With all of these events now with this multimedia approach, our listeners all feel like they’re there and a part of it.

As you can tell by what I’m presenting here, we’re much more than the radio business. We’re in the media business, and my job and that of our program directors, executive producers, and talent is to create compelling content for on-air that can be shared on our digital platforms and TV One 24/7.

This is a crazy time. This business is changing daily, so we are looking to innovate and evolve with our consumers. Now more than ever, we feel that we have the talent to do that. The great thing is that people still listen to radio, and they love radio. That time spent listening is now being shared and consumed with a variety of sources, but we have something that music streaming and other automated music services don’t have, we’re live, we’re local, and we have some of the biggest brands and talent on the radio. We’re local, urgent, topical, engaging, entertaining, and live. I won’t mentioned those services, but they don’t have that.

The motto that I use with my staff is if you can dream it, you can do it. With radio, digital, audio, video, we now can create the most compelling content for our listeners, and we’re doing that now not 24/7, 25/8.

Urban One executives group 2

Yashima I love that. Thank you, Jay. Appreciate that. Another piece of our integrated multimedia narrative that we introduced last week with our launch is the launch of R1 Digital as a new product, a new derivative of radio. Now, I won’t take our next speaker’s shine. I’ll give him the opportunity to provide you more details, but we’re excited about his recent promotion and the impact that he and R1 Digital under the direction of Mark Charnock are already having in our radio group.

Let’s hear from Dwayne Whitaker, who’s the senior director of digital sales and marketing for R1 Digital.

Dwayne Thank you, Yashima. R1 Digital is a critical new brand in the Urban One portfolio and is really our go-to-market digital strategy for radio. R1 Digital leverages all of the local radio digital assets in addition to reach its national digital footprint.

This brand is poised to send a clear message to the marketplace that our radio group is in the digital business, so we’re in it to win it. We believe offering a comprehensive local and digital national product will create new opportunities for businesses, but also as our radio audience grows, we need to be able to nurture that growth and allow them to engage with us via digital channels as Jay just mentioned.

Right out the gate to show our commitment, we’ve overhauled over 57 local station apps as well as our 7 national personality apps on the Reach Media side, and the apps are great—tons of features and ways for our audience to now engage with our personalities all the time. And as I mentioned, our personalities, that is the strength of Radio One and Reach Media who are beloved by our audience which is why we’re close to finalizing our social influencer network which is comprised of some of our most outspoken local and national personalities and talent.

The network is designed to publish content, effect social media conversation, and take client endorsements and influence digital through our entire online network of over 66 million. We want to activate our local and national clients on robust digital channels that connect them to conversations that are happening on the ground and quite frankly at dinner tables with our talent and personalities leading some of those funny, cultural, and defining moments in conversations.

Yes, this is an exciting time for R1 Digital as we seek, find, and build new bridges and ways to effectively communicate to our local urban audience through our R1 Digital channels.

Yashima Love that. Thank you.

Dwayne Thank you, Yashima.

Yashima Thank you for that. We all know that digital is not the media wave of the future, but the wave of right now. We just heard from our radio digital group, so let’s now hear from our national digital platform. iOne Digital formerly known as Interactive One and under the direction of Detavio Samuels has made two powerful announcements in the last week. I’m tell you, we are on fire. In short, iOne Digital has shored up its position as the largest digital distributor of urban black content in the country.

First up to share the launch of her personal brainchild is media veteran Kierna Mayo, who is the senior vice president of content and brand of iOne Digital. Kierna?

Kierna Thank you so much, Yashima. Good morning, everyone. Thank you for your time in advance. Look, I joined iOne Digital about eight months ago. You mentioned Detavio Samuels. He’s such a visionary, and he knew that for a person like myself, I had just been the editor in chief of Ebony Magazine, that I would really need a creative challenge.

He put before me a real one, and the mandate was to really look into the future and look at the iOne Digital suite of brands to see how best do we map our course to tomorrow. We were already killing the game with our existing brands which are NewsOne where we pretty much own black news, HelloBeautiful which has a focus on black women of course, and GlobalGrind which is centered on celebrity life and popular culture.

I came in, like I had mentioned eight months ago, and really began brainstorming with all of the creative might that’s here and all of my extensive network. What we came up with is what we’re now calling internally our master brand. The name of the brand itself is Cassius, and the URL is cassiuslife.com.

It’s really a content play like none before. Many of the folks that I’ve been able to recruit in the past few months have traditional print experience, magazine experience in particular, and we decided that one of the foundational pieces of what Cassius would be is something that ran away from this push to have so much quantity that quality is completely eclipsed.

For us, this is a quality game. We are going to be shooting digital covers to show the breadth of our ideas, our visual understanding of communicating as well as owning a central conversation for at least a month. We know that because of the folks that we’ve recruited and the people that we have here that we have the absolute capability to seize a cultural conversation.

What I noted and a big reason we are launching Cassius is that at this point in culture because black culture is so central to essentially everything, it is almost taken for granted by mainstream culture. You see the faux pas happening all the time with corporations who are trying to tap in, but aren’t tapped in, and then they have egg on their face.

What we’ve decided to do is to create a central location where millennial lifestyle and culture is shaped by the actual culture creators, but offered up to the world. This is yes, black at its nucleus, but it is our greatest hope that we too are considered mainstream.

We’re the new mainstream where black identity and aesthetic and culture is not a secret as the driver for so much else, but it is just a slice of what Cassius Life will come to be known for. Because, really, we’re going to be talking about lifestyle in every pocket of the way that we live our lives.

That’s Cassius, and that’s why I’m so excited right now. We have a full plate over here at iOne Digital, but we have a mandate to drive this Cassius project really to the moon. So far so good.

We launched a soft launch this month on May 4th, and at this point, we are already feeling the critical acclaim. We’re hearing from tons of folks, celebrities, industry folk, and real everyday people that are just saying we appreciate the quality already. Wish us luck, and I’m exciting to hear what folks have to say. Thank you.

Yashima We feel your energy and know why you’re in the seat, so thank you so much for that review of Cassius. We’ve heard about the Cassius platform, but let’s learn about the other side, the newest addition to iOne Digital and the Urban One family that we call BHM Digital. Yes, iOne Digital just announced the acquisition of Bossip, Hip-Hop Wired, and Madame Noire from Moguldom just this week. They’re new to our family. Many of you know these sites.

They’re certainly not novices. They each have taken their place in the digital world and have over 6 million UVs a month. Next up, no pressure, those she’s only on her fourth day at work for us. She’s having her first corporate press conference call. Let’s hear it for Marve Frazier, who is the senior vice president of content for BHM Digital. Marve?

Marve Thank you so much, Yashima. Yes, as she just said, today is day four for me. I was on vacation last week, and I just want to say on behalf of my entire team at BHM Digital, I just really want to express how elated we are to now be a part of the Urban One family. There’s been a lot going on. It’s a lot of work, but we are so excited to kind of take this thing head on.

Urban One executives group 3

What exactly is BHM Digital? For starters, BHM is an acronym obviously for Bossip, Hip-Hop Wired, and Madame Noire. These three brands as Yashima already just stated were recently acquired by iOne Digital. For those unaware, Bossip, which is our flagship brand, is basically an off-the-cuff, viciously hilarious celebrity news site. Obviously, Hip-Hop Wired covers hip hop, but from a perspective that not necessarily afraid to call out the struggle, not afraid to cover social issues, not afraid to basically be everything that encompasses the hip hop culture be it politics, sneakers, what’s new, old school versus new school, etc.

Madame Noire is also one of the brands that iOne acquired, and that site empowers millennial women of color and focuses on every aspect of women’s lifestyle from love and relationships to parenting to crazy stuff in the news, etc.

How is all of this going to work with iOne? Here’s the deal, our content, our sales and marketing teams will operate separately from the iOne brand, but we are actually still family, and we understand the many opportunities and synergies we have to be this dominant powerhouse in not only the digital space, but also radio and TV as well.

As I mentioned earlier, I’m going to keep it short and sweet because this is literally my fourth day, and we’re working through all the nuts and bolts and everything to kind of keep things moving as business as usual and everything going on. However, we have some really, really super dope projects coming this summer. You will have to stay tuned, and we are just super excited again to be a part of this Urban One family and make this media magic. Now I’ll kick it back to—

Yashima That is awesome. Thanks for the plug. We’re going to stay tuned for the summer. I’m telling you, Kierna and Marve, I don’t know if the digital world is ready for both of you all under one umbrella at iOne Digital, but we are excited about what the future holds.

Kierna Yes.

Yashima We’re almost wrapping up to take your questions, but we have two more powerhouses to hear from. Next, we have One Solution also under the management of Detavio Samuels. One Solution is our in-house branded content agency.

Yes, Urban One has an agency, and we literally take our clients from ideation to execution, but we’re doing it with a little bit of a twist, so let’s hear from Tuwisha Rogers, Vice President of Strategy Partnerships.

Tuwisha Thank you, Yashima, for the setup, and good morning, everybody. Super excited to be here. One Solution is uber excited about the Urban One launch and recognizing finally that this is a destination for black culture as well as a gateway to the black community and all those who have affinity for black culture.

Why are we so excited? Because all this time we have been working under this premise, and this is what we do. We have the opportunity to work with all these wonderful platforms that you hear on the phone today to create some awesome work for our clients and what we call our partners.

One Solution truly is a one-stop shop. We have capabilities of a media agency, a client service agency, and a branded content studio. We work with some of today’s top Fortune 500 companies such as Walmart, Coca-Cola, Sam’s Club, University of Phoenix—yes, I’m name-dropping— McDonalds, just to name a few. We’ve done some great things and some great work with them.

What we do is we have unique and robust capabilities, and we definitely do it differently. What we have done is we take a holistic look at our client’s business. We take a look at everything from research and insights. We develop strategic approaches. We develop activation whether it’s in media or branded content. We even do experiential things on the ground. We even go above and beyond and create documentaries. We do it all just like a full-service agency would.

To that, we also recognize that no two business partners are the same, so one of the things that we offer is a customer curated solution for their business. We’re able to do this because we have a couple of secret ingredients that I’m going to share with you guys.

One of our secret ingredients is that we have a diverse talent base. We’re not you regular integrated marketing department. We have a group of teams and folks here who have been brand managers, publicists, media strategists, editors, writers, producers, directors, and more.

The second piece of our secret sauce is that we actually have our own branded content studio. This studio is known as One X. Our One X division is a first class entertainment studio that develops custom content, again, anything from documentaries to stackable content, to commercials. We leverage internal and external talent and resources to get it done, and we’ve done some amazing work.

The third piece of our secret sauce which I’m extremely proud of is our strategic partnerships department. It is where we have your agency experience and white glove service. This particular division provides custom marketing agency services for our premiere clientele and partners. That includes anything you would get a traditional agency from client services, strategy and brand development, community relations, and talent management and a couple of other things.

Once again, we’ve been able to provide all these great things of work to some great partners. Because of that, our hard work has paid off. We’ve actually achieved ten-plus awards in the past two years, anything from an ANA Multicultural Award to Tellies and ADCOLOR.

Briefly, just to wrap it all up, as you can probably tell, and I would stand on it 100% that there’s nothing like that out there in the universe like us, and again, we are super excited about the Urban One name and positioning because again, being recognized as a multimedia company, it better positions One Solution into the marketplace as the destination for any advertiser looking to reach and engage the black community and everyone looking who is understand and want to be part of black culture.

Thanks, everybody, and back to you, Yashima.

Yashima The only thing I can say after that is amen. That’s all you can say after that is amen. We feel your energy. You are so doing the right thing. We feel the fire. We drink your juice, and I know everybody on the call can feel the energy. Thank you so much for that.

I hope you all are pulling all your questions together as we approach our last speaker. She is last, but certainly not least. Mr. Liggins, our CEO, often says that Urban One has been able to weather the storm all these years because we’ve diversified our portfolio. Not only did we engage all areas of media, but we’ve reached out into financial services and gaming.

Many of you know that we partnered with the newly opened MGM National Harbor in Maryland, and we’re thrilled with our partnership. But we’ve also found a role in the financial services industry with our One VIP Card, so let’s hear from Ms. Kim Bandell, our director of operations and shared revenue initiative. Kim?

Kim Thank you, Yashima. They left the sexiest topic for last. Urban One will continue to create safe pathways for the urban marketplace in the financial sector. Historically, as you know, our communities have been underserved by conventional financial services. Technological innovation is creating new business models and revenue opportunities in banking.

Scale and trust are the most significant differentials in the new world of banking and fintech, and we can provide safe banking options and loyalty benefits to millions of consumers. We have diversified our portfolio with the MGM deal and our entrance into the financial space with our GPR card or general purpose reloadable card product, the One VIP Card. It comes with free loyalty access and offers consumers the convenience and safety of a payment card without the constraints of traditional banking services. All of our assets promote financial empowerment and outreach, and this will help level the playing field.

Urban One will utilize media platforms to drive awareness to repair credit, loans, bill pay, savings accounts, investments, and everyday banking needs. We will continue to build partnerships that will focus on better supporting consumer financial health.

Thank you, Yashima.

Yashima Awesome. Thank you so much. There you have it. TV One, Radio One, Reach Media, R1 Digital, iOne Digital, One Solution, and One VIP, we are the new Urban One, Inc. We welcome your questions regarding our capabilities, our programming, and our content.

Operator, please open the lines.

Moderator [Operator instructions]. To the line of Freddie Allen with NNPA Newswire. Please go ahead.

Freddie Good morning, everybody. Thank you for doing this call. I really appreciate it.

W Good morning.

Freddie Good morning. [Audio disruption] to some companies who still don’t understand the value that black media represents in today’s marketplace?

Yashima I’m sorry. Can you ask that question again? Because I think you just cut out a little bit there.

Freddie The question was what do you say to companies and organizations who still question the value of a black media in today’s marketplace?

Yashima Kierna, that sounds like a great question for you. You want to take that one?

Kierna Actually, it gives me pause because I wrestle with this question quite a bit. I think it’s two-fold. Let me start with our onus, which is important, and this is why what we’re doing at iOne Digital across the board at Urban One is really critical—making sure that we are current, ensuring that we ourselves as black media maverick thinkers, leaders, creators, don’t drop the ball in terms of relevancy, where we don’t put up perimeters around our own storytelling.



One of the things at Cassius that we’re talking about quite a bit is how do you provoke and disrupt and inform and uplift at the same time, so I would just first turn the question back on us as a community, not just iOne, I mean all black media, to ask ourselves have we done enough to ensure relevancy, one. In the larger question, I think it’s just essential that when we recognize where black culture is being mimed, is being used, is being reinterpreted, we are unapologetic over here at Cassius, so we call them culture vultures. We call them by name, and we say what it is. I think it’s important that we remember how critical our voice is in being critics of mass culture.

I don’t hear enough of that, and I think that when we begin to do that more and more as individual outlets and then as black media as a collective, where we say, no, wait a minute, this ours; this begins here; we are the authority; we have a better stance.

The third and final piece, of course, would be that the business of black media is still viable, and insomuch as we support each other, lift each other, really value the content currency that we all provide, we will sustain our businesses. It won’t be about how others perceive us inasmuch as it will be how we perceive ourselves.

These advertisers have no way to reach everyone without recognizing our validity. It’s just up to us in my opinion to re-center that conversation back to us because I’ve been watching day in and day out how black culture is being sold literally by folks that don’t have a single black person in the room.

I guess that’s just a winding answer/question/statement, but it’s something that I’m passionate about myself and don’t feel like I have all the answers, but I’m willing to engage the conversation.

Yashima Do you have another question, Eddie?

Moderator [Operator instructions].

D’Angela This is D’Angela. I wanted to add to what Kierna just wonderfully said. As the head of original programming, I also oversee the news division. News and black media, the role that it’s played throughout the history of people of color cannot be understated. Black media played the central role in the Black Freedom Movement.

Dr. King had a column in Ebony Magazine. Daisy Bates owned a black newspaper in Little Rock, and she was the force behind the Little Rock Nine. Frederick Douglass used The North Star to drive the abolitionist movement. Black media especially the news cannot be silenced or underestimated.

With what’s going on in the world today, it is our mission to be at the forefront of not only reporting on [audio disruption], and we do that every day. That’s invaluable, and it’s powerful and should not go away. We won’t. We don’t plan to.

Moderator Our next question is from the line of Dr. Benjamin Chavis with National Newspaper Publishers Association. Please go ahead.

Benjamin Thank you very much. First, we want to salute Urban One, and the National Newspaper Publishers Association, we intend to work with you and collaborate with you. In print scale, we reach 20 million black people a week in print, but with the good news that you have outlaid today is how Urban One has united all the media formats.

I really don’t have a question, but just to say that you can rest assured that our 211 African-American owned newspapers across the United States are going to support Urban One [audio disruption] as you’re going forward. We’re going to help you achieve all the market penetration that you desire.

Yashima That is absolutely wonderful. We thank you so much for that, and it’s that spirit of comradery that’s going to make all the difference in the sustainability of all of our businesses. Thank you so much.

Moderator Next to the line of Paula Hendrickson with PromaxBDA Brief. Please go ahead.

Paula Speaking of all that business, which areas of the vast Urban One basically media empire has proven the most valuable and effective in promoting the rebrand or, I don’t know, you might even want to call it a brand reunification, and how and why those areas have been the most valuable in the effort?

Yashima Thank you for that question. I don’t know that I can answer that very black and white. I mean I think that’s the beauty of what integration is, is that everyone pulls their weight in being able to leverage whatever the message is, and so in this case, it’s announcing our name, our renaming, and our rebranding. Every one of our businesses have pulled together around leveraging what that really means.

I can’t say that there is one over another. TV does what TV does well, and radio has done what radio does well. Digital is doing what it does well, and so together that’s what makes us really the empire—so thank you for using that term—that we ultimately are. I would not rank or create a hierarchy in the answer because we all truly have put our hands to the plow, and it’s been a truly integrated effort.

Moderator [Operator instructions]. There are no further questions in queue.

Yashima Great. Thank you all so much for joining us on the call. We certainly are available for any questions at all. Feel free to email us at media@urban1.com, and if you would like access to transcripts or the audio recording, you can also contact us at that email address. We’ll be glad to disseminate that.

Thank you all again so much for calling in. Have a good one.

Moderator Ladies and gentlemen, that does conclude your conference for today. Thank you for your participation. You may now disconnect.

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