Radio One to launch black talk radio network

Forbes.com reports that Liggins is making an effort to transform Radio One from a pure radio company into a more diversified platform for black consumers, who spend more than $750 billion a year.

"We're in the black people business," Liggins said in a recent conference call. "We are in the business of aggregating audience for this particular demo and providing content to them."

It is for that reason why he spent $56 million to acquire a 51 percent interest in Reach Media, which syndicates the  popular radio personality Tom Joyner's morning show. He also launched TV One LLC, a cable network backed by Comcast Corp. that is aimed at a more mature blacks audience. He beleives this will help stave off the threat of Internet and satellite radio in the urban radio market and help his  company to reach more black consumers.

Liggins hopes the talk network will mean growth for his company despite a national slowdown in the radio industry.

"We think the market for talk is there," Liggins said. "There are tons of talk options for non-African Americans."

The network, which is still being developed, will air 10 a.m. to 7 p.m. weekdays and include a political morning show hosted by Al Sharpton.