**Exhibit 99.4****CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE**     We review all transactions and relationships in which Radio One and our directors andexecutive officers or their immediate family members are participants to determine whether suchpersons have a direct or indirect material interest. In addition, our Code of Ethics requires ourdirectors, executive officers and principal financial officers to report to the board or the auditcommittee any situation that could be perceived as a conflict of interest. Once a related persontransaction has been identified, the board of directors may appoint a special committee of theboard to review and, if appropriate, approve such transaction. The special committee willconsider the material facts, such as the nature of the related person’s interest in thetransaction, the terms of the transaction, the importance of the transaction to the related personand to us, whether the transaction is on terms no less favorable than terms generally available toan unaffiliated third party under the same or similar circumstances, and other matters it deemsappropriate. As required under the SEC rules, we disclose in the proxy statement related partytransactions that are directly or indirectly material to us or a related person.**WDBZ-AM Cincinnati**     In March 2007, Radio One signed an agreement to acquire the assets of WDBZ-AM, a Cincinnatiradio station, from Blue Chip Communications, Inc. (“Blue Chip”) for approximately $2.6 million inseller financing. Blue Chip is wholly owned by Mr. L. Ross Love, a director of Radio One, whountil August 2006 was also a member of Radio One’s audit committee. The transaction was approvedby an independent committee appointed by the board of directors, comprised of Mr. D. GeoffreyArmstrong and Mr. Brian McNeill, both independent directors. Radio One retained the firm of Bond& Pecaro to provide a fair value appraisal for the station. Bond & Pecaro appraised the stationfor $3.4 million as of October 2006. Radio One continues to operate WDBZ-AM under a localmanagement agreement for no annual fee pending completion of the purchase, which is expected totake place in the second half of 2007.**WDMK-FM Transmitter**     In September 2006, Bell Broadcasting Company, a Radio One subsidiary, purchased thetransmitter site for WDMK-FM for $925,000 from American Signaling Corporation, a wholly-ownedsubsidiary of Syndicated Communications Venture Partners II, L.P. (“Syncom Partners”). Terry L.Jones is a general partner of Syncom Partners, with a 6.7% equity interest, and is also a member ofRadio One’s board of directors. The terms of the transaction were approved by an independentcommittee appointed by the board of directors. Prior to the purchase, Radio One leased thetransmitter site from Syncom Partners under terms that we believe were not materially differentthan if the agreement were with an unaffiliated third party. The annual rent for the tower spacewas $75,000 per year, and rent paid in 2006 was $50,000.**Music One, Inc.**     Ms. Hughes and Mr. Liggins own a music recording company called Music One, Inc. (“Music One”).In 2006, Music One paid Radio One a total of $169,000 for office space and administrative servicesprovided to Music One in 2005 and 2006. Radio One paid $5,900 to or on behalf of Music One in2006, primarily for a market event and travel reimbursement. Radio One sometimes promotes therecorded music product of Music One. Based on the cross-promotional value received by Radio One,we believe that the provision of such promotion is fair to Radio One; there were no cash, trade orno-charge orders placed by Music One in 2006.**Executive Officers’ Loans**     In 1999, we extended an unsecured loan to Scott R. Royster in the amount of $87,564, evidencedby a demand promissory note, at an annual interest rate of 5.56%. As of December 31, 2006, theaggregate outstanding principal balance and accrued interest on this loan was approximately$133,000. The purpose of the loan was to pay Mr. Royster’s tax liability with respect to arestricted stock grant.     In connection with his employment agreement, Mr. Royster agreed to purchase from us and weagreed to sell to him 333,334 shares of Class A common stock and 666,666 shares of Class D commonstock, each for a purchase price of $7.00 per share. The purchase price for such shares was fundedby a loan from us in 2000, at a variable rate (based onthe applicable market rate published by the Internal Revenue Service), evidenced by a fullrecourse promissory note maturing in 2010. As of December 31, 2006, the outstanding principalbalance and accrued interest on the loan was approximately $1.6 million.     In 1999, we extended an unsecured loan to Ms. Mary Catherine Sneed, former Chief OperatingOfficer, in the amount of $262,539, at an annual interest rate of 5.56%. The purpose of the loanwas to pay the tax liability with respect to incentive grants of Radio One of Atlanta, Inc. stockreceived by Ms. Sneed. In July 2006, Ms. Sneed paid $407,000 in cash to satisfy this loan in full,after she left the Company.**Controlled Company Exemption**     We are a “controlled company” under rules governing the listing of our securities on theNASDAQ Stock Market because more than 50% of our voting power is held by Catherine L. Hughes, ourChairperson of the Board and Secretary, and Alfred C. Liggins, III, our CEO, President andTreasurer. See Exhibit 99.3,*“Security Ownership of BeneficialOwners and Management”*above.Therefore, we are not subject to NASDAQ Stock Market listing rules that would otherwise require usto have (i) a majority of independent directors on the board; (ii) a compensation committeecomposed solely of independent directors; (iii) a nominating committee composed solely ofindependent directors; (iv) compensation of our executive officers determined by a majority of theindependent directors or a compensation committee composed solely of independent directors; and (v)director nominees selected, or recommended for the board’s selection, either by a majority of theindependent directors or a nominating committee composed solely of independent directors.