Document:

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                                                                   Exhibit 10.61

                            260,000 HIGH TIDES(SM)

                                Radio One, Inc.

                    6 1/2% Convertible Preferred Securities

    Remarketable Term Income Deferrable Equity Securities (HIGH TIDES)(SM)
                 (Liquidation Preference $1,000 per HIGH TIDES)

                                convertible into
                                Common Stock of

                                Radio One, Inc.

                               PURCHASE AGREEMENT
                               ------------------

                                                                   July 10, 2000

Credit Suisse First Boston Corporation
Deutsche Bank Securities Inc
Morgan Stanley & Co. Incorporated
Banc of America Securities LLC
First Union Securities, Inc.
 As Representatives of the Several Purchasers,
   c/o Credit Suisse First Boston Corporation,
     Eleven Madison Avenue,
       New York, N.Y. 10010-3629

Dear Sirs:

          1.   Introductory.  Radio One, Inc., a Delaware Corporation (the
"Company"), proposes, subject to the terms and conditions stated herein, that
the Company issue and sell to the several initial purchasers named in Schedule A
hereto (the "Purchasers") 260,000 6 1/2% Convertible Preferred Securities
Remarketable Term Income Deferrable Equity Securities (HIGH TIDES)(SM)
(the "Firm Securities") and also proposes that the Company issue and sell to the
Purchasers, at the option of the Purchasers, an aggregate of not more than
50,000 additional HIGH TIDES ("Optional Securities") as set forth below. The
Firm Securities and the Optional Securities
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that the Purchasers may elect to purchase pursuant to Section 3 hereof are
herein collectively called the "Offered Securities". The Offered Securities will
be convertible into shares of Class D common stock, par value $.001 per share,
of the Company (the "Company Common Stock"). Holders (including subsequent
transferees) of the Offered Securities (or any security into which the Offered
Securities are converted) will have the registration rights set forth in the
Registration Rights Agreement dated as of the Closing Date (the "Registration
Rights Agreement") to be entered into between the Company and the Purchasers.
Pursuant to the Registration Rights Agreement, the Company agrees to file with
the Securities and Exchange Commission (the "Commission") a shelf registration
statement (the "Shelf Registration Statement") pursuant to Rule 415 under the
Securities Act of 1933, as amended (the "Securities Act"), to register sales of
the Offered Securities, and the shares of Company Common Stock issuable upon
conversion thereof (collectively, the "Registrable Securities") following the
sale of the Offered Securities contemplated hereby.

               The Company agrees with the Purchasers as follows:

          2.   Representations and Warranties of the Company.  The Company
represents and warrants to, and agrees with, the several Purchasers that:

          (a) An offering circular relating to the Offered Securities to be
offered by the Purchasers shall be prepared by the Company, and delivered to the
Purchasers at such place or places as they may direct, at or prior to such time
as Credit Suisse First Boston Corporation ("CSFBC") requests.  Such offering
circular together with any other document approved by the Company for use in
connection with the contemplated resale of the Offered Securities, are
hereinafter collectively referred to as the "Offering Document".  The Offering
Document shall not include any untrue statement of a material fact or omit to
state any material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading.  The
preceding sentence does not apply to statements in or omissions from the
Offering Document based upon written information furnished to the Company by any
Purchaser through CSFBC specifically for use therein, it being understood and
agreed that the only such information is that described as such in Section 7(b).
Except as disclosed in the Offering Document, on the date of this Agreement, the
Company's Annual Report on Form 10-K most recently filed with the Securities and
Exchange Commission (the "Commission") and all subsequent reports (collectively,
the "Exchange Act Reports") which have been filed by the Company with the
Commission or sent to stockholders pursuant to the Securities Exchange Act of
1934 (the "Exchange Act") do not include any untrue statement of a material fact
or omit to state any material fact necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading.  Such
documents, when they were filed with the Commission, conformed in all material
respects to the requirements of the Exchange Act and the rules and regulations
of the Commission thereunder.

          (b) The Company has been duly incorporated and is an existing
corporation in good standing under the laws of the State of Delaware, with power
and authority (corporate and other) to own its properties and conduct its
business as described in the Offering Document; and the Company is duly
qualified to do business as a foreign corporation in good standing in all other
jurisdictions in which its ownership or lease of property or the conduct of its

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business requires such qualification, except where the failure to so qualify
would not have, individually or in the aggregate, a material adverse effect on
the condition (financial or other), business, properties or results of
operations of the Company and its Subsidiaries taken as a whole ("Material
Adverse Effect").

          (c) Each Subsidiary of the Company has been duly incorporated and is
an existing corporation  in good standing under the laws of the jurisdiction of
its incorporation, with power and authority (corporate and other) to own its
properties and conduct its business as described in the Offering Document; each
Subsidiary of the Company is duly qualified to do business as a foreign
corporation in good standing in all other jurisdictions in which its ownership
or lease of property or the conduct of its business requires such qualification,
except where the failure to so qualify would not have a Material Adverse Effect;
all of the issued and outstanding capital stock of each Subsidiary of the
Company has been duly authorized and validly issued and is fully paid and
nonassessable; except as described in the Offering Document, the capital stock
of each Subsidiary owned by the Company, directly or through Subsidiaries, is
owned free from liens, encumbrances and defects.  For purposes of this
agreement, "Subsidiary" means, as applied to any person, any corporation,
limited or general partnership, trust, association or other business entity of
which an aggregate of at least 50% of the outstanding Voting Shares or an
equivalent controlling interest herein, of such person is, at any time, directly
or indirectly, owned by such person and/or one or more subsidiaries of such
person, including with respect to the Company.  For purposes of the definition
of "Subsidiary", "Voting Shares," means with respect to any corporation, the
capital stock having the general voting power under ordinary circumstances to
elect at least a majority of the board of directors (irrespective of whether or
not at the time stock of any other class or classes shall have or might have
voting power by reason of the happening of any contingency).

          (d) The Offered Securities have been duly authorized by the Company
and, when the Offered Securities have been delivered and paid for in accordance
with this Agreement, on each Closing Date (as defined below), such Offered
Securities will have been validly issued, fully paid and nonassessable and will
conform to the description thereof contained in the Offering Document; the
issuance of the Offered Securities is not subject to preemptive or other similar
rights; the Offered Securities will have the rights set forth in a certificate
of designations, in a form reasonably acceptable to CSFBC, which shall be
validly authorized and approved by the Company and filed with the Secretary of
State of the State of Delaware on or before the First Closing Date (as defined
below) ("the "Certificate of Designations") and the Offered Securities when
issued and delivered against payment therefor as provided herein will be valid
and binding obligations of the Company.

          (e) Subject to receipt of the consents, approvals, authorizations and
orders described in the last sentence of this paragraph, the consummation of any
or all of the transactions described in the Offering Document under the caption
"RECENT AND PENDING TRANSACTIONS" (collectively, the "Transactions") will not
result in a breach or violation of any of the terms and provisions of, or
constitute a default under, any statute, any rule, regulation or order of, any
governmental agency or body (including, but not limited to, any order published
or otherwise known to the Company of the Federal Communications Commission
("FCC")) or any court, domestic or foreign, having jurisdiction over the Company
or any subsidiary of the Company or any

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of their properties, or any agreement or instrument to which the Company or any
such subsidiary is a party or by which the Company or any such subsidiary is
bound or to which any of the properties of the Company or any such subsidiary is
subject, or the charter or by-laws of the Company or any such subsidiary. The
agreements (collectively, the "Transaction Agreements") to effectuate the
Transactions have been duly authorized, executed and delivered by the Company
and its affiliates which are parties thereto and constitute valid and binding
agreements of the Company and its affiliates, enforceable against the Company
and its affiliates in accordance with their terms (subject to applicable
bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or
other similar laws now or hereafter in effect relating to creditors' rights
generally and general principles of equity, regardless of whether such
enforceability is considered in a proceeding in equity or at law). Except as set
forth in the Offering Document, no consent, approval, authorization, or order
of, or filing with, any governmental agency or body (including, without
limitation, the FCC) or any court or other person was or is required to be
obtained or made by the Company for the execution and delivery of the
Transaction Agreements and consummation of the transactions contemplated
thereby, except such as have been already obtained or may be required under the
Communications Act of 1934, as amended, and the rules, regulations and published
administrative orders promulgated thereunder (collectively, the "Federal
Communications Laws").

          (f) The Registration Rights Agreement has been duly authorized by the
Company and, when executed and delivered, will conform in all material respects
to the description thereof contained in the Offering Document.  The Registration
Rights Agreement, when validly executed and delivered by the Company, will
constitute a valid and legally binding obligation of the Company and will be
enforceable against the Company in accordance with its terms, subject to
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
similar laws of general applicability relating to or affecting creditors' rights
and to general equity principles and except that the enforceability of the
rights to indemnity and contribution pursuant to Section 5 thereof may be
limited by federal or state securities laws or by principles of public policy.

          (g) The Remarketing Agreement has been duly authorized and when
validly executed and delivered by the Company and the Tender Agent, will
constitute a valid and legally binding obligation of the Company, enforceable in
accordance with its terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and similar laws of general applicability
relating to or affecting creditors' rights and to general equity principles; and
it will conform in all material respects to the description thereof in the
Offering Document.

          (h) When the Offered Securities are delivered and paid for pursuant to
this Agreement on each Closing Date, such Offered Securities will be convertible
into the Common Stock of the Company in accordance with their terms and the
terms of the Certificate of Designations (the Common Stock into which the
Offered Securities are ultimately convertible are referred to herein as the
"Underlying Shares"); the Underlying Shares initially issuable upon conversion
of such Offered Securities have been duly authorized and reserved for issuance
upon such conversion and, when issued upon such conversion, will be validly
issued, fully paid and nonassessable; the outstanding shares of Company Common
Stock and the Underlying Shares will conform to the description thereof
contained in the Offering Document; and the stockholders of the Company have no
preemptive rights with respect to the Offered Securities, or the Underlying
Shares.

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          (i) Except as shall be disclosed in the Offering Document, there are
no contracts, agreements or understandings between the Company and any person
that would give rise to a valid claim against the Company or any Purchaser for a
brokerage commission, finder's fee or other like payment in connection with this
offering.

          (j) Except as (i) disclosed in the Offering Document, (ii) provided
for in this Agreement or the Registration Rights Agreement or (iii) set forth on
Schedule B hereto, there are no contracts, agreements or understandings between
the Company and any person granting such person the right to require the Company
to file a registration statement under the Securities Act with respect to any
securities of the Company owned or to be owned by such person or to require the
Company to include such securities in the securities registered pursuant to the
Shelf Registration Statement (as defined in the Registration Rights Agreement)
or in any securities being registered pursuant to any other registration
statement filed by the Company under the Securities Act.

          (k) No consent, approval, authorization, or order of, or filing with,
any governmental agency or body (including, without limitation, the FCC) or any
court is required for the consummation of the transactions contemplated by this
Agreement or by the Remarketing Agreement or the Registration Rights Agreement
(collectively, the "Company Agreements") in connection with the issuance and
sale of the Offered Securities, except for in connection with the Registration
Rights Agreement, (i) the filing of the Shelf Registration Statement with the
Commission under the Securities Act, (ii) the order of the Commission declaring
the Shelf Registration Statement effective and (iii) any actions required by
state securities laws.

          (l) The execution, delivery and performance of this Agreement and the
Company Agreements by the Company, and the issuance and sale of the Offered
Securities by the Company and compliance with the terms and provisions of each
of the foregoing by the Company, and the consummation by the Company of the
transactions contemplated herein and therein will not result in a breach or
violation of any of the terms and provisions of, or constitute a default under,
any statute, any rule, regulation or order of any governmental agency or body
(including without limitation, any order  published or otherwise known to the
Company of the FCC) or any court, domestic or foreign, having jurisdiction over
the Company, or any Subsidiary of the Company or any of their properties, or any
agreement or instrument to which the Company, or any such Subsidiary is a party
or by which the Company, or any such Subsidiary is bound or to which any of the
properties of the Company, or any such Subsidiary is subject, or the charter,
by-laws or other organizational document of the Company, or any such Subsidiary,
and the Company has full power and authority to authorize, issue and sell the
Offered Securities, as contemplated by this Agreement.

          (m) This Agreement and the Company Agreements have been duly
authorized, and this Agreement has been, and the Company Agreements shall be on
the Closing Date, executed and delivered by the Company.

          (n) Except as shall be disclosed in the Offering Document, the Company
and its Subsidiaries have good and marketable title to all real properties and
all other properties and assets owned by them, in each case free from liens,
encumbrances and defects that

                                       5
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would materially affect the value thereof or materially interfere with the use
made or to be made thereof by them; and except as shall be disclosed in the
Offering Document, the Company and its Subsidiaries hold any leased real or
personal property under valid and enforceable leases with no exceptions that
would materially interfere with the use made or to be made thereof by them.

          (o) The Company and  its Subsidiaries possess adequate certificates,
authorities or permits  and hold all necessary licenses issued by appropriate
governmental agencies or bodies (including, without limitation, licenses issued
by the FCC) necessary to conduct the business now operated by them and have not
received any notice of proceedings relating to the revocation or modification of
any such certificate, authority, permit or license that, if determined adversely
to the Company or any of its Subsidiaries, would individually or in the
aggregate have a Material Adverse Effect.  Neither the Company nor any of its
Subsidiaries is in material violation of any material requirement of any Federal
Communications Law or any published order of any court or administrative agency
or authority relating thereto.  The Company and the identified subsidiaries are
the holders of the main commercial radio station licenses issued by the FCC
listed in Attachment I hereto (the "Current FCC Licenses"), all of which are in
full force and effect, for the maximum term customarily issued, with no material
conditions, restrictions or qualifications other than as described in the
Offering Document or that appear in the ordinary course in the Current FCC
Licenses, and such Current FCC Licenses constitute all of the commercial radio
station licenses necessary for the Company and the subsidiaries to own their
properties and to conduct their businesses in the manner and to the full extent
now operated.  Upon consummation of the Transactions (i) the Company and the
identified subsidiaries will be the holders of the main commercial radio station
licenses issued by the FCC listed in Attachment II hereto (the "Prospective FCC
Licenses") and (ii) the Company has no reason to believe that all Prospective
FCC Licenses will not be in full force and effect, for the maximum term
customarily issued, with no material conditions, restrictions or qualifications
other than as described in the Offering Document or that appear in the ordinary
course in the Prospective FCC Licenses, and such Prospective FCC Licenses
constitute all of the material commercial radio station licenses necessary for
the Company and the subsidiaries to operate the radio stations relating to the
Transactions as described in the Offering Document.

          (p) No labor dispute with the employees of the Company or any
Subsidiary exists or, to the knowledge of the Company, is imminent that might
have a Material Adverse Effect.

          (q) The Company and its Subsidiaries own, possess or can acquire on
reasonable terms, adequate trademarks, trade names and other rights to
inventions, know-how, patents, copyrights, confidential information and other
intellectual property (collectively, "intellectual property rights") necessary
to conduct the business now operated by them, or presently employed by them, and
have not received any notice of infringement of or conflict with asserted rights
of others with respect to any intellectual property rights that, if determined
adversely to the Company or any of its Subsidiaries, would individually or in
the aggregate have a Material Adverse Effect.

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          (r) Each of the Company and its Subsidiaries has filed all necessary
federal, state, local and foreign income and franchise tax returns that are
required to be filed, except where the failure to file such returns would not
have a Material Adverse Effect and each of the Company and its Subsidiaries has
paid all taxes shown as due thereon, except for any assessment, fine or penalty
that is currently being contested in good faith and for which adequate reserves
have been provided or as described in the Offering Document.

          (s) Except as shall be disclosed in the Offering Document, neither the
Company nor any of its Subsidiaries is in violation of any statute, any rule,
regulation, decision or order of any governmental agency or body or any court,
domestic or foreign, relating to the use, disposal or release of hazardous or
toxic substances or relating to the protection or restoration of the environment
or human exposure to hazardous or toxic substances  (collectively,
"Environmental Laws"), owns or operates any real property contaminated with any
substance that is subject to any Environmental Laws, is liable for any off-site
disposal or contamination pursuant to any environmental laws, or is subject to
any claim relating to any environmental laws, which violation, contamination,
liability or claim would individually or in the aggregate have a Material
Adverse Effect; and the Company is not aware of any pending investigation which
might lead to such a claim.

          (t) Except as shall be disclosed in the Offering Document, there are
no pending actions, suits, proceedings, inquiries or investigations before or
brought by any court or governmental agency or body (including, without
limitation, the FCC)  against or affecting the Company, any of its Subsidiaries
or any of their respective properties that, if determined adversely to the
Company or any of its Subsidiaries, would individually or in the aggregate have
a Material Adverse Effect, would result in the revocation or non-renewal of any
of the Current FCC Licenses, or would materially and adversely affect the
ability of the Company or its Subsidiaries to perform their respective
obligations under, or contemplated by, this Agreement or the Company Agreements,
or which are otherwise material in the context of the sale of the Offered
Securities; and no such actions, suits or proceedings are threatened or, to the
knowledge of the Company, contemplated.

          (u) The financial statements that shall be included in the Offering
Document shall present fairly the financial position of the Company and its
consolidated subsidiaries as of the dates shown and their results of operations
and cash flows for the periods shown, and, except as otherwise shall be
disclosed in the Offering Document, such financial statements shall have been
prepared in conformity with the generally accepted accounting principles in the
United States applied on a consistent basis; and the assumptions used in
preparing the pro forma financial statements included in the Offering Document
shall provide a reasonable basis for presenting the significant effects directly
attributable to the transactions or events described therein, the related pro
forma adjustments shall give appropriate effect to those assumptions, and the
pro forma columns therein shall reflect the proper application of those
adjustments to the corresponding historical financial statement amounts.

          (v) The statistical and market-related data (other than market-related
data and statistical data provided by the Company) included in the Offering
Document shall be based on or derived from sources which the Company believes to
be reliable and accurate, it being

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understood, however, that the Company has conducted no independent investigation
of the accuracy thereof.

          (w) Each of the Company and its Subsidiaries (i) make and keep
accurate books and records and (ii) maintain internal accounting controls that
provide reasonable assurance that (A) transactions are executed in accordance
with management's authorization, (B) transactions are recorded as necessary to
permit preparation of its financial statements and to maintain profitability for
its assets, (C) access to its assets is permitted only in accordance with
management's authorization and (D) the reported accountability for its assets is
compared with existing assets at reasonable intervals.

          (x) Except as shall be disclosed in the Offering Document, since the
date of the latest audited financial statements that shall be included in the
Offering Document there shall have been no material adverse change, nor any
development or event involving a prospective material adverse change, in the
condition (financial or other), business, properties or results of operations of
the Company and its Subsidiaries taken as a whole, and, except as disclosed in
or contemplated by the Offering Document, there has been no dividend or
distribution of any kind declared, paid or made by the Company on any class of
its capital stock, except for the stock dividend effective on June 6, 2000.

          (y) The Company is not an open-end investment company that is or is
required to be registered under Section 8 of the United States Investment
Company Act of 1940, as amended (the "Investment Company Act"); and the Company
is not and, after giving effect to the offering, the sale of the Offered
Securities, and the application of the proceeds thereof as described in the
Offering Document, and the consummation of the transactions contemplated by the
Company Agreements, will not be an "investment company" as defined in the
Investment Company Act.

          (z) No securities of the Company of the same class (within the meaning
of Rule 144A(d)(3) under the Securities Act) as the Offered Securities are
listed on any national securities exchange registered under Section 6 of the
Exchange Act or quoted in a U.S. automated inter-dealer quotation system.

          (aa)  The offer and sale of the Offered Securities by the Company
to the several Purchasers in the manner contemplated by this Agreement will be
exempt from the registration requirements of the Securities Act by reason of
Section 4(2) thereof and Rule 144A thereunder.

          (bb)  Notwithstanding the public offering by the Company pursuant
to a Registration Statement on Form S-1 (File No. 333-30286), neither the
Company nor any of its affiliates, nor any person acting on behalf of any of the
foregoing (i) has, within the six-month period prior to the date hereof, offered
or sold in the United States or to any U.S. person (as such terms are defined in
Regulation S under the Securities Act) the Offered Securities or any security of
the same class or series as the Offered Securities or (ii) has offered or will
offer or sell the Offered Securities in the United States by means of any form
of general solicitation or general advertising within the meaning of Rule 502(c)
under the Securities Act.  The Company has not entered and will

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not enter into any contractual arrangement with respect to the distribution of
the Offered Securities except for this Agreement.

          (cc) The Company is subject to Section 13 or 15(d) of the Exchange
Act.

          3.   Purchase, Sale and Delivery of Offered Securities.  On the basis
of the representations, warranties and agreements herein contained, but subject
to the terms and conditions herein set forth, the Company agrees that the
Company shall sell to the Purchasers, and the Purchasers agree, severally and
not jointly, to purchase from the Company, at a purchase price of $1,000 per
Offered Security plus accrued dividends from July 14, 2000 to the First Closing
Date (as hereinafter defined), the respective number of shares of Firm
Securities set forth opposite the names of the several Purchasers in Schedule A
hereto.

          The Company will deliver against payment of the purchase price the
Firm Securities in the form of one or more permanent global securities in
definitive form (the "Firm Global Securities") deposited with The Depository
Trust Company ("DTC") or its custodian and registered in the name of Cede & Co.,
as nominee for DTC.  Interests in any permanent global securities will be held
only in book-entry form through DTC, except in the limited circumstances that
shall be described in the Offering Document.  Payment for the Firm Securities
shall be made by the Purchasers in Federal (same day) funds by official bank
check or checks or wire transfer to an account at a bank acceptable to CSFBC
drawn to the order of Radio One, Inc. at the office of CSFBC at 10:00 A.M. (New
York time), on July 14, 2000 (the "Closing Time"), or at such other time not
later than seven full business days thereafter as CSFBC and the Company
determine, such time being herein referred to as the "First Closing Date",
against delivery to DTC or its custodian of the Firm Global Securities
representing all of the Firm Securities.  The Firm Global Securities will be
made available for checking at the above office of CSFBC (or such other location
as CSFBC may direct), at least 24 hours prior to the First Closing Date.

          In addition, upon written notice from CSFBC given to the Company from
time to time not more than 30 days subsequent to the date of the Offering
Document, the Purchasers may purchase all or less than all of the Optional
Securities at the purchase price per liquidation amount of Offered Securities
(including any accrued dividends thereon to the related Optional Closing Date)
to be paid for the Firm Securities. The Company agrees that it shall sell to the
Purchasers the number of Optional Securities specified in such notice and the
Purchasers agree, severally and not jointly, to purchase such Optional
Securities. Such Optional Securities shall be purchased for the account of each
Purchaser in the same proportion as the number of Firm Securities set forth
opposite such Purchaser's name bears to the total number of Firm Securities
(subject to adjustment by CSFBC to eliminate fractions) and may be purchased by
the Purchasers at their discretion. No Optional Securities shall be sold or
delivered unless the Firm Securities previously have been, or simultaneously
are, sold and delivered. The right to purchase the Optional Securities or any
portion thereof may be exercised from time to time and to the extent not
previously exercised may be surrendered and terminated at any time upon notice
by CSFBC to the Company.

                                       9
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          Each time for the delivery of and payment for the Optional Securities,
being herein referred to as an "Optional Closing Date", which may be the First
Closing Date (the First Closing Date and each Optional Closing Date, if any,
being sometimes referred to as a "Closing Date"), shall be determined by CSFBC
on behalf of the Purchasers but shall be not later than five full business days
after written notice of election to purchase Optional Securities is given.  The
Company will deliver against payment of the purchase price the Optional
Securities being purchased on each Optional Closing Date in the form of one or
more permanent global securities in definitive form (each, an "Optional Global
Security") deposited with DTC or its custodian and registered in the name of
Cede & Co., as nominee for DTC.  Payment for such Optional Securities shall be
made by the Purchasers in Federal (same day) funds by official bank check or
checks or wire transfer to an account at a bank acceptable to CSFBC drawn to the
order of Radio One, Inc. at the office of CSFBC against delivery to DTC or its
custodian of the Optional Global Securities representing all of the Optional
Securities being purchased on such Optional Closing Date.

          As compensation for the Purchasers' commitments, the Company will pay
to CSFBC the sum of $30 per Offered Security times the total number of Offered
Securities purchased by the Purchasers on each Closing Date as commissions for
the sale of the Offered Securities under this Agreement.  Such payment will be
made on each Closing Date with respect to the Offered Securities purchased on
such Closing Date.

          4.   Representations by Purchasers; Resale by Purchasers.

          (a) Each Purchaser severally represents and warrants to the Company
that it is an "accredited investor" within the meaning of Regulation D under the
Securities Act and a "dealer" within the meaning of Rule 144A ("Rule 144A")
under the Securities Act.

          (b) Each Purchaser severally acknowledges that the Offered Securities
have not been registered under the Securities Act and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
except pursuant to an exemption from the registration requirements of the
Securities Act.  Each Purchaser severally represents and agrees that, except as
permitted herein, it will not offer, sell or deliver the Offered Securities as
part of its distribution at any time within the United States or to, or for the
account or benefit of, U.S. persons, except in reliance on Rule 144A.

          (c) Each Purchaser severally agrees that it and each of its affiliates
has not entered and will not enter into any contractual arrangement with respect
to the distribution of the Offered Securities except for any such arrangements
with the other Purchasers or affiliates of the other Purchasers or with the
prior written consent of the Company.

          (d) Each Purchaser severally agrees that it and each of its affiliates
will not offer or sell the Offered Securities in the United States by means of
any form of general solicitation or general advertising within the meaning of
Rule 502(c) under the Securities Act, including, but not limited to (i) any
advertisement, article, notice or other communication published in any
newspaper, magazine or similar media or broadcast over television or radio, or
(ii) any

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seminar or meeting whose attendees have been invited by any general solicitation
or general advertising. Each Purchaser severally agrees, with respect to resales
made in reliance on Rule 144A of any of the Offered Securities, to deliver
either with the confirmation of such resale or otherwise prior to settlement of
such resale a notice to the effect that the resale of such Offered Securities
has been made in reliance upon the exemption from the registration requirements
of the Securities Act provided by Rule 144A.

          (e) Each Purchaser severally represents and agrees that (i) it has not
solicited, and will not solicit, offers to purchase any of the Offered
Securities from, (ii) it has not sold, and will not sell, any of the Offered
Securities to, and (iii) it has not distributed, and will not distribute, the
Offering Document to, any person or entity in any jurisdiction outside of the
United States except, in each case, in compliance in all material respects with
all applicable laws.  For the purposes of this Agreement, "United States" means
the United States of America, its territories, its possessions and other areas
subject to its jurisdiction.

          5.   Certain Agreements of the Company.  The Company agrees with the
several Purchasers that:

          (a) The Company will advise CSFBC promptly of any proposal to amend or
supplement the Offering Document and will not effect such amendment or
supplementation without CSFBC's consent.  If, at any time prior to the
completion of the resale of the Offered Securities by the Purchasers, any event
occurs as a result of which the Offering Document as then amended or
supplemented would include an untrue statement of a material fact or omit to
state any material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading, the
Company promptly will notify CSFBC of such event and promptly will prepare, at
its own expense, an amendment or supplement which will correct such statement or
omission or effect such compliance. Neither CSFBC's consent to, nor the
Purchasers' delivery to offerees or investors of, any such amendment or
supplement shall constitute a waiver of any of the conditions set forth in
Section 6.

          (b) The Company will furnish to CSFBC copies of any preliminary
offering circular, the Offering Document and all amendments and supplements to
such documents, in each case as soon as available and in such quantities as
CSFBC requests, and the Company will promptly furnish to CSFBC three copies of
the Offering Document signed by a duly authorized officer of the Company, one of
which will include the independent accountants' reports therein manually signed
by such independent accountants. At any time when the Company is not subject to
Section 13 or 15(d) of the Exchange Act, the Company will promptly furnish or
cause to be furnished to CSFBC (and, upon request, to each of the other
Purchasers, if any) and, upon request of holders and prospective purchasers of
the Offered Securities, to such holders and purchasers, copies of the
information required to be delivered to holders and prospective purchasers of
the Offered Securities pursuant to Rule 144A(d)(4) under the Securities Act (or
any successor provision thereto) in order to permit compliance with Rule 144A in
connection with resales by such holders of the Offered Securities.  The Company
will pay the expenses of printing and distributing to the Purchasers all such
documents.

                                       11
<PAGE>

          (c) The Company will arrange for the qualification of the Offered
Securities for sale and the determination of their eligibility for investment
under the laws of such jurisdictions as CSFBC designates and will continue such
qualifications in effect so long as required for the resale of the Offered
Securities by the Purchasers, provided that the Company will not be required to
qualify as a foreign corporation or to file a general consent to service of
process in any such state.

          (d) So long as any Offered Securities remain outstanding, the Company
will furnish to CSFBC and, upon request, to each of the other Purchasers, if
any, as soon as practicable after the end of each fiscal year, a copy of its
annual report to stockholders for such year; and the Company will furnish to
CSFBC and, upon request, to each of the other Purchasers, if any, (i) as soon as
available, a copy of each report and any definitive proxy statement of the
Company filed with the Commission under the Exchange Act or mailed to
stockholders, and (ii) from time to time, such other information concerning the
Company as CSFBC may reasonably request.

          (e) During the period of two years after the later of the Closing Date
and the last Optional Closing Date, the Company will, upon request, furnish to
CSFBC and, each of the other Purchasers, if any, and any holder of Offered
Securities a copy of the restrictions on transfer applicable to the Offered
Securities.

          (f) During the period of two years after the later of the Closing Date
and the last Optional Closing Date, the Company will not, and will not permit
any of its affiliates (as defined in Rule 144 under the Securities Act) to,
resell any of the Offered Securities that have been reacquired by any of them.

          (g) During the period of two years after the later of the Closing Date
and the last Optional Closing Date, the Company will not be or become, an open-
end investment company, unit investment trust or face-amount certificate company
that is or is required to be registered under Section 8 of the Investment
Company Act.

          (h) The Company will pay all expenses incidental to the performance of
its obligations under this Agreement and the Company Agreements, including (i)
all expenses in connection with the execution, issue, authentication, packaging
and initial delivery of the Offered Securities, (ii) all of the Company's
expenses in connection with the preparation and printing of this Agreement, the
Company Agreements, the Offered Securities, the Offering Document and amendments
and supplements thereto, and any other document relating to the issuance, offer,
sale and delivery of the Offered Securities; (iii) the cost of qualifying the
Offered Securities for trading in The Portal(SM) Market ("PORTAL") of the NASDAQ
Stock Market, Inc. and any expenses incidental thereto; (iv) for any expenses
(including fees and disbursements of counsel) incurred in connection with
qualification of the Offered Securities for sale under the laws of such
jurisdictions in the United States and Canada as CSFBC designates and the
printing of memoranda relating thereto; (v) for any fees charged by investment
rating agencies for the rating of the Offered Securities; and (vi) for expenses
incurred in distributing preliminary offering circulars and the Offering
Document (including any amendments and supplements thereto) to the Purchasers.
The Company will pay for all travel expenses of the Company's officers and
employees and any other

                                       12
<PAGE>

expenses of the Company in connection with attending or hosting meetings with
prospective purchasers of the Offered Securities.

          (i) In connection with the offering, until CSFBC shall have notified
the Company and the other Purchasers of the completion of the resale of the
Offered Securities, neither the Company nor any of their affiliates has or will,
either alone or with one or more other persons, bid for or purchase for any
account in which it or any of its affiliates has a beneficial interest, or
attempt to induce any person to purchase, any Offered Securities or Company
Common Stock; and neither they nor any of their affiliates will make bids or
purchases for the purpose of creating actual, or apparent, active trading in, or
of raising the price of, the Offered Securities or Company Common Stock.

          (j) For a period of 60 days after the date of the initial offering of
the Offered Securities (the "Lock-Up Period"), the Company will not, and will
not permit its Subsidiaries to, offer, sell, contract to sell, pledge or
otherwise dispose of, directly or indirectly, or file with the Commission a
registration statement under the Securities Act (other than one or more
registration statements (x) on Form S-3 relating solely to the registration of
shares issuable upon the sale of transferred employee stock options or (y) on
Form S-8) relating to any additional shares of (A) any preferred securities or
any preferred stock, (B) any preferred stock or any other security of the
Company that is substantially similar to the Offered Securities, (C) any shares
of common stock of the Company other than shares of common stock issuable upon
conversion of the Offered Securities or (D) any other securities which are
convertible into, or exchangeable or exercisable for, any of (A) through (D), or
publicly disclose the intention to make any such offer, sale, pledge,
disposition or filing, without the prior written consent of CSFBC except (i)
grants of employee stock options pursuant to the terms of a plan in effect on
the date hereof or hereafter, (ii) issuances of Company Common Stock pursuant to
the exercise of such options, or (iii) the exercise of any other employee stock
options outstanding on the date hereof.  Such agreement will not prevent the
offer, sale, contract to sell, announcement of an intention to sell, or other
disposition of, or filing with the Commission by the Company and the Company of
(x) a Shelf Registration Statement (as defined in the Registration Rights
Agreement) relating solely to (i) the Offered Securities, (ii) Company Common
Stock issued or delivered upon conversion of the Offered Securities, or (iii)
securities issued or delivered upon conversion, exchange or exercise of any
other securities of the Company outstanding on the date of the offering circular
related to the Offered Securities and (y) a shelf registration statement
pursuant to Rule 415 under the Securities Act relating to debt securities,
warrants for debt securities or Company Common Stock, provided, however, that
the Company shall not offer, sell, contract to sell, announce an intention to
sell, or other disposition of, any securities of the type described in clauses
(A) through (D) above under such registration statement during the Lock-Up
Period.  Notwithstanding anything in this Agreement to the contrary, the Company
will not at any time offer, sell, contract to sell, pledge or otherwise dispose
of, directly or indirectly, any securities under circumstances where such offer,
sale, pledge, contract or disposition would cause the exemption afforded by
Section 4(2) of the Securities Act to cease to be applicable to the offer and
sale of the Offered Securities.

                                       13
<PAGE>

          6.   Conditions of the Obligations of the Purchasers.  The obligations
of the several Purchasers to purchase and pay for the Firm Securities on the
First Closing Date and the Optional Securities to be purchased on each Optional
Closing Date will be subject to the accuracy of the representations and
warranties on the part of the Company herein, to the accuracy of the statements
of officers of the Company made pursuant to the provisions hereof, to the
performance by the Company of its obligations hereunder and to the following
additional conditions precedent:

          (a) The Purchasers shall have received a letter, dated the date of
delivery hereof, of Arthur Andersen LLP confirming that they are independent
public accountants within the meaning of the Securities Act and the applicable
published rules and regulations thereunder (the "Rules and Regulations") and
stating to the effect that:

               (i) in their opinion the financial statements and schedules
     examined by them and included in the Offering Document and in the Exchange
     Act Reports comply as to form in all material respects with the applicable
     accounting requirements of the Securities Act and the related published
     Rules and Regulations;

               (ii) they have performed the procedures specified by the
     American Institute of Certified Public Accountants for a review of interim
     financial information as described in Statement of Auditing Standards No.
     71, Interim Financial Information, on the unaudited financial statements
     included in the Offering Document and in the Exchange Act Reports;

               (iii) on the basis of the review referred to in clause (ii)
     above, a reading of the latest available interim financial statements of
     the Company, inquiries of officials of the Company who have responsibility
     for financial and accounting matters and other specified procedures,
     nothing came to their attention that caused them to believe that:

                    (A) the unaudited financial statements included in the
               Offering Document and in the Exchange Act Reports do not comply
               as to form in all material respects with the applicable
               accounting requirements of the Securities Act and the related
               published Rules and Regulations or any material modifications
               should be made to such unaudited financial statements for them to
               be in conformity with generally accepted accounting principles;

                    (B) the unaudited consolidated net revenue, net operating
               income and summary of earnings, net income and net income per
               share amounts for the 3-month period ended March 31, 1999 and
               2000 included in the Offering Document do not agree with the
               amounts set forth in the unaudited consolidated financial
               statements for those same periods or were not determined on a
               basis substantially consistent with that of the corresponding
               amounts in the audited statements of income;

                                       14
<PAGE>

                    (C) at the date of the latest available balance sheet read
               by such accountants, or at a subsequent specified date not more
               than three business days prior to the date of this Agreement,
               there was any change in the capital stock or any increase in
               short-term indebtedness or long-term debt of the Company and its
               consolidated subsidiaries or, at the date of the latest available
               balance sheet read by such accountants, there was any decrease in
               consolidated net current assets or net assets, as compared with
               amounts shown on the latest balance sheet included in the
               Offering Document; or

                    (D) for the period from the closing date of the latest
               income statement included in the Offering Document to the closing
               date of the latest available income statement read by such
               accountants there were any decreases, as compared with the
               corresponding period of the previous year, and with the period of
               corresponding length ended the date of the latest income
               statement included in the Offering Document, in consolidated net
               broadcasting revenues, or net operating income or in the total or
               per share amounts of consolidated net income or in the ratio of
               earnings to fixed charges and preferred stock dividends combined,
               except in all cases set forth in clauses (B) and (D) above for
               changes, increases or decreases which the Offering Document
               discloses have occurred or may occur or which are described in
               such letter; and

               (iv) on the basis of their review of the unaudited pro forma
     financial statements, selected consolidated financial data and ratio of
     earnings to fixed charges included in the Offering Document and inquiries
     of officials of the Company who have responsibility for financial and
     accounting matters and other specified procedures, nothing came to their
     attention that caused them to believe that the unaudited pro forma
     financial, selected consolidated financial data and ratio of earnings to
     fixed charges statements included in the Offering Document do not each
     comply as to form in all material respects with the accounting requirements
     under the Securities Act as generally applicable to such information if
     included in a registration statement; and

               (v) they have compared specified dollar amounts (or percentages
     derived from such dollar amounts) and other financial information contained
     in the Offering Document and in the Exchange Act Reports (in each case to
     the extent that such dollar amounts, percentages and other financial
     information are derived from the general accounting records of the Company
     and its Subsidiaries subject to the internal controls of the Company's
     accounting system or are derived directly from such records by analysis or
     computation) with the results obtained from inquiries, a reading of such
     general accounting records and other procedures specified in such letter
     and have found such dollar amounts, percentages and other financial
     information to be in agreement with such results, except as otherwise
     specified in such letter.

                                       15
<PAGE>

          (b) Subsequent to the execution and delivery of this Agreement, there
shall not have occurred (i) any change, or any development or event involving a
prospective change, in the condition (financial or other), business, properties
or results of operations of the Company and its Subsidiaries taken as a whole
which, in the judgment of a majority in interest of the Purchasers including the
CSFBC, is material and adverse and makes it impractical or inadvisable to
proceed with completion of the public offering or the sale of and payment for
the Offered Securities; (ii) any downgrading in the rating of any debt
securities or preferred stock of the Company by any "nationally recognized
statistical rating organization" (as defined for purposes of Rule 436(g) under
the Securities Act), or any public announcement that any such organization has
under surveillance or review its rating of any debt securities or preferred
stock of the Company (other than an announcement with positive implications of a
possible upgrading, and no implication of a possible downgrading, of such
rating); (iii) any material suspension or material limitation of trading in
securities generally on the New York Stock Exchange, or any setting of minimum
prices for trading on such exchange, or any suspension of trading of any
securities of the Company on any exchange or in the over-the-counter market;
(iv) any banking moratorium declared by U.S. Federal or New York authorities; or
(v) any outbreak or escalation of major hostilities in which the United States
is involved, any declaration of war by Congress or any other substantial
national or international calamity or emergency if, in the judgment of a
majority in interest of the Purchasers including CSFBC, the effect of any such
outbreak, escalation, declaration, calamity or emergency makes it impractical or
inadvisable to proceed with completion of the offering or the sale of and
payment for the Offered Securities.

          (c) The Purchasers shall have received an opinion, dated such Closing
Date, of Kirkland & Ellis, counsel for the Company, to the effect that:

               (i) Each of the Company and its Subsidiaries is a corporation
     validly existing and in good standing under the laws of the jurisdiction of
     its incorporation, the Company has the full corporate power to enter into
     and perform its obligations hereunder and the Company and each of its
     subsidiaries has the corporate power to own and lease its properties and to
     carry on its business as described in the Offering Document;

               (ii) The Company and each of its Subsidiaries is duly
     qualified to do business as a foreign corporation in and is in good
     standing in each jurisdiction listed opposite its name on Attachment III
     hereto;

               (iii) All of the issued and outstanding shares of capital
     stock of, or other ownership interests in, each of the Subsidiaries listed
     on Attachment IV have been duly authorized and validly issued and are fully
     paid and nonassessable, and to such counsel's knowledge, all such shares
     are owned, directly or through wholly owned Subsidiaries of the Company, by
     the Company, free and clear of any lien, except as described in the
     Offering Document;

                                       16
<PAGE>

               (iv) (A) Each of the Company Agreements has been duly
     authorized, executed and delivered by the Company and (B) each of the
     Offered Securities delivered on such Closing Date has been duly authorized,
     executed, issued and delivered and is fully paid and nonassessable;

               (v) The Offered Securities delivered on such Closing Date are
     convertible into the shares of Company Common Stock in accordance with the
     Certificate of Designations; the Underlying Shares issuable upon conversion
     of the Offered Securities have been duly authorized and reserved for
     issuance upon such conversion and, when issued upon such conversion in
     accordance with the Certificate of Designations, will be validly issued,
     fully paid and nonassessable; and the stockholders of the Company have no
     preemptive rights with respect to the Offered Securities or the Underlying
     Shares;

               (vi) No consent, approval, authorization or order of, or
     filing with, any governmental agency or body or any court is required for
     the consummation by the Company of the transactions contemplated by this
     Agreement and the Registration Rights Agreement in connection with the
     issuance or sale of the Offered Securities by the Company, except for (A)
     any of the foregoing as may be required under state securities or blue sky
     laws and (B) in connection with the Registration Rights Agreement, (1) the
     filing of the Shelf Registration Statement with the Commission under the
     Securities Act and (2) the order of the Commission declaring the Shelf
     Registration Statement effective;

               (vii)  Except as set forth in the Offering Document, to such
     counsel's knowledge, there are no legal or governmental proceedings,
     pending or actively threatened against, the Company or any of its
     subsidiaries or any of their respective properties that, if determined
     adversely to the Company or any of its subsidiaries, would individually or
     in the aggregate have a Material Adverse Effect;

               (viii)  To such counsel's knowledge, there are no outstanding
     options, warrants or other rights calling for the issuance of, or any
     commitment, plan or arrangement to issue, any shares of capital stock of
     the Company or any security convertible into or exchangeable or exercisable
     for any capital stock of the Company, except as described in the Offering
     Document.

               (ix)  The execution, delivery and performance of this
     Agreement and the Company Agreements, the issuance and sale of the Offered
     Securities, and compliance by the Company with the terms and provisions
     hereof and thereof will not (A) violate any statute, rule, regulation or
     order of which such counsel is aware of any governmental agency or body or
     any court having jurisdiction over the Company or any Subsidiary of the
     Company or any of their respective properties, (B) to such counsel's
     knowledge, breach the provisions of, or cause a default under, any
     agreement or instrument to which the Company or any

                                       17
<PAGE>

     such Subsidiary is a party or by which the Company or any such Subsidiary
     is bound or to which any of the properties of the Company or any such
     Subsidiary is subject, or (C) violate any provision of the charter, by-laws
     or any other constitutive document of the Company or any such Subsidiary;

               (x) The Exchange Act Reports, when they were filed with the
     Commission, appeared on their face to comply as to form in all material
     respects with the requirements of the Exchange Act and the rules and
     regulations of the Commission thereunder; while such counsel is not passing
     upon and does not assume responsibility for the accuracy, completeness or
     fairness of the statements contained in the Offering Document except to the
     extent specifically set forth in this paragraph (x), such counsel has no
     reason to believe that the Offering Document or any amendment or supplement
     thereto (including Exchange Act Reports) as of its date and as of such
     Closing Date, contains any untrue statement of a material fact or omits to
     state any material fact required to be stated therein or necessary to make
     the statements therein, in the light of the circumstances under which they
     are made,  not misleading; the statements in the Offering Document under
     the captions "The Remarketing," "The Remarketing Agent," "Description of
     HIGH TIDES," "Registration Rights," "Certain United States Federal Income
     Tax Consequences," and "Description of Capital Stock," insofar as such
     statements constitute summaries of laws, regulations, legal matters,
     agreements or other legal documents referred to therein, are accurate in
     all material respects and fairly summarize the matters referred to therein;
     it being understood that such counsel need express no opinion or belief as
     to the financial statements or other financial or statistical data derived
     therefrom included in the Offering Document;

               (xi)  This Agreement has been duly authorized, executed and
     delivered by the Company; and

               (xii)  Based upon and assuming the accuracy of the
     representations and warranties set forth in this Agreement, it is not
     necessary in connection with either (A) the offer, sale and delivery to the
     Purchasers of the Offered Securities or (B) the resales of the Offered
     Securities by the Purchasers in the manner contemplated by this Agreement,
     to register the Offered Securities under the Securities Act.

          (d) The Purchasers shall have received an opinion, dated such Closing
Date, of Davis Wright Tremaine LLP, FCC Counsel to the Company, to the effect
that:

               (i) Except as previously made or obtained, or as disclosed in the
     Offering Document, as the case may be, no filing or registration with, or
     authorization, approval, consent, license, order, qualification or decree
     of any court or administrative agency or authority is necessary or required
     under the Federal Communications Laws to be obtained or made by the Company
     or any Subsidiary of the Company for the consummation of the Transactions
     described in

                                       18
<PAGE>

     the Offering Document or in connection with the execution or delivery by
     the Company of the Company Agreements, the performance by the Company of
     the transactions contemplated thereby or the offering, issuance or sale of
     the Offered Securities, all as of the date hereof.

               (ii)  To their knowledge, neither the Company nor any of its
     Subsidiaries is in violation in any material respect of any Federal
     Communications Law or in violation of any published order of any court or
     administrative agency or authority relating thereto.

               (iii) The Company and the identified Subsidiaries are the
     holders of the Current FCC Licenses, all of which are in full force and
     effect, for the maximum term customarily issued, with no material
     conditions, restrictions or qualifications other than as described in the
     Offering Document or that appear in the ordinary course in the Current FCC
     Licenses, and to their knowledge, such Current FCC Licenses constitute all
     of the commercial radio station licenses necessary for the Company and the
     Subsidiaries to own their properties and to conduct their businesses in the
     manner and to the full extent now operated as described in the Offering
     Document. To their knowledge there are no facts or circumstances which
     would justify the Commission denying the pending applications for
     assignment of any of the Prospective FCC Licenses, or approving the
     assignment for less than the maximum term customarily issued, or with
     material conditions, restrictions or qualifications other than as described
     in the Offering Document.

               (iv)  The execution, delivery and performance of this
     Agreement, and the issuance and sale of the Offered Securities do not and
     will not violate any of the terms or provisions of, or constitute a default
     under (A) the Federal Communications Laws or (B) the Current FCC licenses
     held by the Company or any Subsidiary of the Company.

               (v)   There are no published or, to their knowledge, unpublished
     FCC orders, decrees or rulings outstanding against the Company or any of
     its Subsidiaries or any pending or threatened actions, suits or proceedings
     against the Company or any of its subsidiaries by or before the FCC that
     seek to revoke, or if determined adversely to the Company or any of its
     subsidiaries, would have a Material Adverse Effect or would result in a
     revocation or non-renewal of, any of the Current FCC Licenses, other than
     as disclosed in the Offering Document.

          (e) The Purchasers shall have received from Skadden, Arps, Slate,
Meagher & Flom LLP, counsel for the Purchasers, such opinion or opinions, dated
such Closing Date, with respect to the incorporation of the Company, the
validity of the Offered Securities delivered on such Closing Date, the Offering
Document and other related matters as the Purchasers

                                       19
<PAGE>

may require, and the Company shall have furnished to such counsel such documents
as they request for the purpose of enabling them to pass upon such matters.

          (f) The Purchasers shall have received a certificate, dated such
Closing Date, of the Chief Executive Officer and the Chief Financial Officer of
the Company, in which such officers, to the best of their knowledge after
reasonable investigation, shall state that: the representations and warranties
of the Company in this Agreement are true and correct; the Company has complied
with all agreements and satisfied all conditions on its part to be performed or
satisfied hereunder at or prior to such Closing Date; and, subsequent to the
date of the most recent financial statements in the Offering Document, there has
been no material adverse change, nor any development or event involving a
prospective material adverse change, in the condition (financial or other),
business, properties or results of operations of the Company and its
Subsidiaries taken as a whole except as set forth in or contemplated by the
Offering Document or as described in such certificate.

          (g) The Purchasers shall have received a letter, dated such Closing
Date, of Arthur Anderson LLP which meets the requirements of subsection (a) of
this Section, except that the specified date referred to in such subsection will
be a date not more than three days prior to such Closing Date for the purposes
of this subsection.

          The Company will furnish the Purchasers with such conformed copies of
such opinions, certificates, letters and documents as the Purchasers reasonably
request.  CSFBC may in its sole discretion waive on behalf of the Purchasers
compliance with any conditions to the obligations of the Purchasers hereunder,
whether in respect of an Optional Closing Date or otherwise.

          7.   Indemnification and Contribution.  (a)  The  Company will
indemnify and hold harmless each Purchaser, its partners, directors and officers
and each person, if any, who controls such Purchaser within the meaning of
Section 15 of the Securities Act, against any losses, claims, damages or
liabilities, joint or several, to which such Purchaser may become subject, under
the Securities Act or the Exchange Act or otherwise, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of or
are based upon any untrue statement or alleged untrue statement of any material
fact contained in the Offering Document, or any amendment or supplement thereto,
or the Exchange Act Reports or arise out of or are based upon the omission or
alleged omission to state therein a material fact required to be stated therein
or necessary in order to make the statements therein not misleading, in the
light of the circumstances under which they were made, including the Company's
failure to perform its obligations under Section 5(a) of this Agreement, and
will reimburse each Purchaser for any legal or other expenses reasonably
incurred by such Purchaser in connection with investigating or defending any
such loss, claim, damage, liability or action as such expenses are incurred;
provided, however, that the Company will not be liable in any such case to the
extent that any such loss, claim, damage or liability arises out of or is based
upon an untrue statement or alleged untrue statement in or omission or alleged
omission from any of such documents in reliance upon and in conformity with
written information furnished to the Company by any Purchaser through CSFBC
specifically for use therein,

                                       20
<PAGE>

it being understood and agreed that the only such information furnished by any
Purchaser consists of the information described as such in subsection (b) below.

          (b) Each Purchaser will severally and not jointly indemnify and hold
harmless the Company, and its directors, and officers and each person, if any
who controls the Company within the meaning of Section 15 of the Securities Act
against any losses, claims, damages or liabilities to which the Company may
become subject, under the Securities Act or the Exchange Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any untrue statement or alleged untrue
statement of any material fact contained in the Offering Document, or any
amendment or supplement thereto, or arise out of or are based upon the omission
or the alleged omission to state therein a material fact required to be stated
therein or necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading, in each case to
the extent, but only to the extent, that such untrue statement or alleged untrue
statement or omission or alleged omission was made in reliance upon and in
conformity with written information furnished to the Company by such Purchaser
through CSFBC specifically for use therein, and will reimburse any legal or
other expenses reasonably incurred by the Company in connection with
investigating or defending any such loss, claim, damage, liability or action as
such expenses are incurred, it being understood and agreed that the only such
information furnished by any Purchaser consists of the following information in
the Offering Document furnished on behalf of each Purchaser: the information
contained in the second sentence in the fifth paragraph, third sentence of the
ninth paragraph, tenth paragraph and second sentence of the eleventh paragraph
under the caption "Plan of Distribution."

          (c) Promptly after receipt by an indemnified party under this Section
of notice of the commencement of any action, such indemnified party will, if a
claim in respect thereof is to be made against the indemnifying party under
subsection (a) or (b) above, notify the indemnifying party of the commencement
thereof; but the omission so to notify the indemnifying party will not relieve
the indemnifying party from any liability which it may have to any indemnified
party otherwise than under subsection (a) or (b) above.  In case any such action
is brought against any indemnified party and it notifies the indemnifying party
of the commencement thereof, the indemnifying party will be entitled to
participate therein and, to the extent that it may wish, jointly with any other
indemnifying party similarly notified, to assume the defense thereof, with
counsel satisfactory to such indemnified party (who shall not, except with the
consent of the indemnified party, be counsel to the indemnifying party), and
after notice from the indemnifying party to such indemnified party of its
election so to assume the defense thereof, the indemnifying party will not be
liable to such indemnified party under this Section for any legal or other
expenses subsequently incurred by such indemnified party in connection with the
defense thereof other than reasonable costs of investigation.  No indemnifying
party shall, without the prior written consent of the indemnified party, effect
any settlement of any pending or threatened action in respect of which any
indemnified party is or could have been a party and indemnity could have been
sought hereunder by such indemnified party unless such settlement (i) includes
an unconditional release of such indemnified party from all liability on any
claims that are the subject matter of such action and (ii) does not include a
statement as to, or an admission of, fault, culpability or a failure to act by
or on behalf of an indemnified party.

                                       21
<PAGE>

          (d) If the indemnification provided for in this Section is unavailable
or insufficient to hold harmless an indemnified party under subsection (a) or
(b) above, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of the losses, claims, damages or
liabilities referred to in subsection (a) or (b) above (i) in such proportion as
is appropriate to reflect the relative benefits received by the Company on the
one hand and the Purchasers on the other from the offering of the Offered
Securities or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as is appropriate to reflect not
only the relative benefits referred to in clause (i) above but also the relative
fault of the Company on the one hand and the Purchasers on the other in
connection with the statements or omissions which resulted in such losses,
claims, damages or liabilities as well as any other relevant equitable
considerations. The relative benefits received by the Company on the one hand
and the Purchasers on the other shall be deemed to be in the same proportion as
the total net proceeds from the offering (before deducting expenses) received by
the Company bear to the total discounts and commissions received by the
Purchasers from the Company under this Agreement. The relative fault shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state
a material fact relates to information supplied by the Company or the Purchasers
and the parties' relative intent, knowledge, access to information and
opportunity to correct or prevent such untrue statement or omission. The amount
paid by an indemnified party as a result of the losses, claims, damages or
liabilities referred to in the first sentence of this subsection (d) shall be
deemed to include any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any action or
claim which is the subject of this subsection (d). Notwithstanding the
provisions of this subsection (d), no Purchaser shall be required to contribute
any amount in excess of the amount by which the total price at which the Offered
Securities purchased by it were resold exceeds the amount of any damages which
such Purchaser has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission.  The Purchasers'
obligations in this subsection (d) to contribute are several in proportion to
their respective purchase obligations and not joint.

          (e) The obligations of the Company under this Section  shall be in
addition to any liability which the Company may otherwise have and shall extend,
upon the same terms and conditions, to each person, if any, who controls any
Purchaser within the meaning of the Securities Act or the Exchange Act; and the
obligations of the Purchasers under this Section shall be in addition to any
liability which the respective Purchasers may otherwise have and shall extend,
upon the same terms and conditions, to each person, if any, who controls the
Company within the meaning of the Securities Act or the Exchange Act.

          8.   Default of Purchasers.  If any Purchaser or Purchasers default in
their obligations to purchase Offered Securities hereunder on either the First
or any Optional Closing Date and the aggregate liquidation amount of Offered
Securities that such defaulting Purchaser or Purchasers agreed but failed to
purchase does not exceed 10% of the total liquidation amount of Offered
Securities that the Purchasers are obligated to purchase on such Closing Date,
CSFBC may make arrangements satisfactory to the Company for the purchase of such
Offered Securities by other persons, including any of the Purchasers, but if no
such arrangements are made by such Closing Date, the non-defaulting Purchasers
shall be obligated severally, in proportion to their respective

                                       22
<PAGE>

commitments hereunder, to purchase the Offered Securities that such defaulting
Purchasers agreed but failed to purchase on such Closing Date. If any Purchaser
or Purchasers so default and the aggregate liquidation amount of Offered
Securities with respect to which such default or defaults occur exceeds 10% of
the total liquidation amount of Offered Securities that the Purchasers are
obligated to purchase on such Closing Date and arrangements satisfactory to
CSFBC and the Company for the purchase of such Offered Securities by other
persons are not made within 36 hours after such default, this Agreement will
terminate without liability on the part of any non-defaulting Purchaser or the
Company, except as provided in Section 9 (provided that if such default occurs
with respect to Optional Securities after the First Closing Date, this Agreement
will not terminate as to the Firm Securities or any Optional Securities
purchased prior to such termination). As used in this Agreement, the term
"Purchaser" includes any person substituted for an Purchaser under this Section.
Nothing herein will relieve a defaulting Purchaser from liability for its
default.

          9.   Survival of Certain Representations and Obligations.  The
respective indemnities, agreements, representations, warranties and other
statements of the Company or their officers and of the several Purchasers set
forth in or made pursuant to this Agreement will remain in full force and
effect, regardless of any investigation, or statement as to the results thereof,
made by or on behalf of any Purchaser, the Company or any of their respective
Purchasers, officers or directors or any controlling person, and will survive
delivery of and payment for the Offered Securities. If this Agreement is
terminated pursuant to Section 8 or if for any reason the purchase of the
Offered Securities by the Purchasers is not consummated, the Company shall
remain responsible for the expenses to be paid or reimbursed by it pursuant to
Section 5 and the respective obligations of the Company and the Purchasers
pursuant to Section 7 shall remain in effect, and if any Offered Securities have
been purchased hereunder the representations and warranties in Section 2 and all
obligations under Section 5 shall also remain in effect. If the purchase of the
Offered Securities by the Purchasers is not consummated for any reason other
than solely because of the termination of this Agreement pursuant to Section 8
or the occurrence of any event specified in clause (iii), (iv) or (v) of Section
6(b), the Company will reimburse the Purchasers for all out-of-pocket expenses
(including fees and disbursements of counsel) reasonably incurred by them in
connection with the offering of the Offered Securities.

          10.  Notices.  All communications hereunder will be in writing and, if
sent to the Purchasers, will be mailed, delivered, telegraphed and confirmed or
faxed and confirmed to the Purchasers,  c/o Credit Suisse First Boston
Corporation, Eleven Madison Avenue, New York, N.Y. 10010-3629, Attention:
Investment Banking Department--Transactions Advisory Group, or, if sent to the
Company, will be mailed, delivered, telegraphed and confirmed or faxed and
confirmed to it at Radio One, Inc., 5900 Princess Garden Parkway, 8/th/ Floor,
Lanham, Maryland 20706, Attention: General Counsel; provided, however, that any
notice to a Purchaser pursuant to Section 7 will be mailed, delivered,
telegraphed and confirmed, or faxed and confirmed to such Purchaser.

          11.  Information in Offering Document.  All financial statements and
schedules included in material incorporated by reference into the Offering
Document shall be deemed included in the Offering Document for purposes of this
Agreement.

                                       23
<PAGE>

          12.  Successors.  This Agreement will inure to the benefit of and be
binding upon the parties hereto and their respective successors and the officers
and directors and controlling persons referred to in Section 7, and no other
person will have any right or obligation hereunder, except that holders of
Offered Securities shall be entitled to enforce the agreements for their benefit
contained in the second and third sentences of Section 5(b) hereof against the
Company as if such Holders were partis hereto.

          13.  Representation of Purchasers.  CSFBC will act for the several
Purchasers in connection with this financing, and any action under this
Agreement taken by CSFBC will be binding upon all the Purchasers.

          14.  Counterparts.  This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original, but all such
counterparts shall together constitute one and the same Agreement.

          15.  Applicable Law.  This Agreement shall be governed by, and
construed in accordance with, the laws of the State of New York, without regard
to principles of conflicts of laws.

          The Company hereby submits to the non-exclusive jurisdiction of the
Federal and state courts in the Borough of Manhattan in The City of New York in
any suit or proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby.

                           [Signature page follows.]

                                       24
<PAGE>

   If the foregoing is in accordance with the Purchasers' understanding of our
agreement, kindly sign and return to the Company one of the counterparts hereof,
whereupon it will become a binding agreement between the Company, and the
several Purchasers in accordance with its terms.

                                    Very truly yours,

                                    RADIO ONE, INC.
                                    By:     /s/ Alfred C. Liggins
                                    Name:   Alfred C. Liggins
                                    Title:   President & CEO
<PAGE>

The foregoing Purchase Agreement is hereby confirmed and accepted as of the
date first above written.

  Credit Suisse First Boston Corporation
  Deutsche Bank Securities Inc
  Morgan Stanley & Co. Incorporated
  Banc of America Securities LLC
  First Union Securities, Inc.

     Acting on behalf of themselves and as the
      Representatives of the several
      Purchasers

  By: Credit Suisse First Boston Corporation

    By:       /s/ Kristin M. Allen
     Name:   Kristin M. Allen
     Title:  Managing Director
<PAGE>

                                 SCHEDULE A

                                                              Number of
Purchaser                                                  Firm Securities
---------                                                  ---------------
Credit Suisse First Boston Corporation....................      123,500
Deutsche Bank Securities Inc..............................       71,500
Morgan Stanley & Co. Incorporated.........................       26,000
Banc of America Securities LLC............................       19,500
First Union Securities, Inc...............................       19,500
                                                                -------
 Total....................................................      260,000
                                                                =======
<PAGE>

                                   SCHEDULE B

1.   Warrantholders' Agreement by and among Radio One, Inc., Radio One Licenses,
     Inc. and the other parties thereto, dated as of June 6, 1995, as amended.

2.   Registration Rights Agreement by and among Radio One, Inc. and the other
     parties thereto, dated as of March 30, 1999.

3.   Registration Rights Agreement by and between Radio One, Inc. and Gregory A.
     Davis, dated as of June 7, 2000.

4.   Registration Rights Agreement by and between Radio One, Inc. and Shirk,
     Inc., dated as of June 8, 2000.

                                     S-4
<PAGE>

                                  Attachment I
                                  ------------

                            Radio One Licenses, Inc.
                            ------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -------------    ---------------
<S>             <C>               <C>            <C>              <C>
WKYS(FM)        Washington, DC          73200    BMLH-990514KD            10/1/03
                                                 BRH-950601YR             10/1/03
                                                 BLH-900130KB             10/1/03

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   -----------      ---------------
KPH-709                                          BPLRE-880822MG           10/1/03
KPJ-713                                          BPLRE-880421MB           10/1/03
WHM-976                                          BMLST-830307MC           10/1/03
KPH-735                                          BPLRE-860823MY           10/1/03
KGL-356                                          BALRE-880406MF           10/1/03
KGL-357                                          BALRE-880406ME           10/1/03

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
WOL(AM)         Washington, DC          54713    BR-950601B3              10/1/03
                                                 BZ-921119AA

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   -----------      ---------------
WLP-796                                          BLST-900202ME            10/1/03

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
WMMJ(FM)        Bethesda, MD            54712    BLH-990506KA             10/1/03
                                                 BRH-950601ZG             10/1/03
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   -----------      ---------------
<S>             <C>               <C>            <C>              <C>
WLP-729                                          BPLST-900126MH           10/1/03
WLD-724                                          BLST-81009MK             10/1/03

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
WOLB(AM)        Baltimore, MD           54711    BR-950601VG              10/1/03
                                                 BL-860207AJ              10/1/03

Auxiliaries
--------------
NONE

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    ------------     ---------------
WERQ-FM         Baltimore, MD           68827    BRH-950601ZF             10/1/03
                                                 BLH-891228KA             10/1/03
                                                 BLH-891228KB             10/1/03

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   -----------      ---------------
WLE-939                                          BPLST-900220MA           10/1/03
KPK-392                                          BPLRE-900220ME           10/1/03
KPK-262                                          BPLRE-900313MG           10/1/03

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
WWIN(AM)        Baltimore, MD           54709    BR-950601VE              10/1/03
                                                 BZ-900430AH              10/1/03

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   -----------      ---------------
WLP-458                                          BPLST-890321MD           10/1/03
</TABLE>

                                     S-6
<PAGE>

<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
<S>             <C>               <C>            <C>              <C>
WWIN-FM         Glen Burnie, MD         54710    BRH-950601VF             10/1/03
                                                 BMLH-920325KC            10/1/03

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   --------------   ---------------
WHS-275                                          BPLST-890321MC           10/1/03

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
WPHI-FM         Jenkintown, PA          30572    BRH-980401YU              8/1/06
                                                 BLH-870408KA              8/1/06

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   --------------   ---------------
WLJ-410                                          BMLST-861125MH            8/1/06
KB-97399                                         BMLRE-871016MB            8/1/06

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
WERE(AM)        Cleveland, OH           41389    BR-960603A2              10/1/04

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   --------------   ---------------
WPG-82                                           01038GEN                 10/1/04
WLP-789                                          BPLST-900113ME           10/1/04
</TABLE>
                                     S-7
<PAGE>

<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
<S>             <C>               <C>            <C>              <C>
WENZ(FM)        Cleveland, OH            2685    BRH-960603YL             10/1/04

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   -----------      ---------------
WPNK-639                                                                  10/1/04
KPJ-798                                          BPLRE-890403ME           10/1/04
KPJ-797                                          BPLRE-890406MF           10/1/04
WLL-613                                          BPLIC-880531ME           10/1/04

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    ---------------  ---------------
WFUN-FM         Bethalto, IL             4948    BLH-20000616AEK               --
                                                 BPH-981214ID             3/21/02
                                                 BRH-960731WS             12/1/04

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   -----------      ---------------
WLP-556                                          Not Available            12/1/04

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    ------------     ---------------
WBOT(FM)        Brockton, MA            19633    BLH-990611KA              4/1/06
                                                 BPH-981020IB             7/29/00
                                                 BRH-971126A2              4/1/06

Auxiliaries
--------------
NONE
</TABLE>

                                     S-8
<PAGE>

<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -------------    ---------------
<S>             <C>               <C>            <C>              <C>
WDYL(FM)        Chester, VA             27439    BMLH-981007KA            10/1/03
                                                 BRH-950531VX             10/1/03

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   -------------    ---------------
WPOT-853                                         Not Available            10/1/03

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    ------------     ---------------
WARV-FM         Petersburg, VA          21826    BLH-931007KC             10/1/03
                                                 BRH-950605YQ             10/1/03

Auxiliaries
--------------
NONE

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    ------------     ---------------
WKJS(FM)        Crewe, VA                 321    BRH-950601ZQ             10/1/03
                                                 BLH-990302KA             10/1/03

Auxiliaries
--------------
NONE

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    ------------     ---------------
WPLY(FM)        Media, PA               25079    BLH-980813KB              8/1/06
                                                 BRH-980318K4              8/1/06
                                                 BLH-821101AI              8/1/06
                                                 BMLH-840207AM
</TABLE>
                                     S-9

<PAGE>

<TABLE>
<CAPTION>

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   -----------      ---------------
<S>             <C>               <C>            <C>              <C>
KC23223                                          920902MF                 8/1/06
WHQ384                                           820921MH                 8/1/06
WPNH614                                          502881                   8/1/06
WPKN512                                          9703D073339              8/1/06
KPM479                                           9306480336               8/1/06
KPH283                                           870324MB                 8/1/06

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    ---------------  ---------------
WYJZ(FM)        Lebanon, IN               620    BLH-20000516AAY           8/1/04
                                                 BRH-960401B7              8/1/04
                                                 BPH-981113IH              2/9/03

Auxiliaries
--------------
Call Sign                                        File Number      Expiration Date
--------------                                   -----------      ---------------
WPNI487                                          505705                    8/1/04

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
WHHH(FM)        Indianapolis, IN        60207    BLH-911115KC              8/1/04
                                                 BRH-960325YG              8/1/04

Auxiliaries
--------------
Call Sign                                        File Number(s)   Expiration Date
--------------                                   --------------   ---------------
WMV376                                           502556                    8/1/04
WPNG437                                          503457                    8/1/04
WPNG742                                          505704                    8/1/04
WPNJ364                                          505706                    8/1/04
KPJ786                                           9612D065134               8/1/04
KPK523                                           920219MP                  8/1/04
WPLP690                                          9707D089395               8/1/04
</TABLE>

                                     S-10
<PAGE>

<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
<S>             <C>               <C>            <C>              <C>
WBKS(FM)        Greenwood, IN           25071    BPH-980904IE
                                                 BLH-940217KB              8/1/04
                                                 BRH-960321WN              8/1/04

Auxiliaries
--------------
Call Sign                                        File Number(s)   Expiration Date
--------------                                   --------------   ---------------
WMV377                                           505707                    8/1/04
WMU-445                                          BPST-930909MC             8/1/04

FCC Licenses
------------
W53AV(LPTV),    Indianapolis, IN
w65DW(LPTV),    Indianapolis, IN

Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
<S>             <C>               <C>            <C>              <C>
W65DW           Indianapolis, IN        28199    BLTTL-19931022JT          8/1/05
                                                 BRTTL-19980330AL          8/1/05
                                                 BPTTL-19981014JB**       6/29/02

Auxiliaries
-----------
NONE

**   Construction Permit granted but has not been built. Upon completion of
     construction, Station W65DW(LPTV) will replace Station W53AV(LPTV).
</TABLE>
                                     S-11
<PAGE>

                           Radio One of Augusta, Inc.
                           --------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign       City of License   Facility ID    File Number      Expiration Date
---------       ---------------   -----------    -----------      ---------------
<S>             <C>               <C>            <C>              <C>
WTHB(AM)        Augusta, GA             15843    BR-19951201A6             4/1/04
                                                 BZ-19990727DD             4/1/04

Auxiliaries
--------------
NONE

FCC Licenses
--------------
Call Sign       City of License  Facility ID  File Number        Expiration Date
--------------  ---------------  -----------  --------------     ---------------

WAEG(FM)        Evans, GA              31941  BLED-911213KC               4/1/96
                                              BRH-951204YP                4/1/04

Auxiliaries
--------------
Call Sign                                     File Number        Expiration Date
--------------                                --------------     ---------------
WPOT917                                       505939             4/1/04

FCC Licenses
--------------
Call Sign       City of License  Facility ID  File Number        Expiration Date
--------------  ---------------  -----------  --------------     ---------------
WAKB(FM)        Wrens, GA              15849  BR-951201A2                 4/1/04
                                              BL-790529AC                 4/1/04

Auxiliaries
--------------
Call Sign                                     File Number        Expiration Date
--------------                                --------------     ---------------
KOS-314                                       BPLRE-810831MA              4/1/04
WMV622                                        500100                      4/1/04
</TABLE>

                                     S-12
<PAGE>

<TABLE>
<CAPTION>

FCC Licenses
--------------
Call Sign       City of License  Facility ID  File Number        Expiration Date
--------------  ---------------  -----------  --------------     ---------------
<S>             <C>              <C>          <C>                <C>
WAEJ(FM)        Waynesboro, GA         31942  BRH-951204YT                4/1/03
                                              BLH-901220KC                4/1/03

Auxiliaries
--------------
Call Sign                                     File Number(s)     Expiration Date
--------------                                --------------     ---------------
WPOT918                                       505940                      4/1/04
WME-828                                       BPLST-910102MJ              4/1/04

FCC Licenses
--------------
Call Sign       City of License  Facility ID  File Number        Expiration Date
--------------  ---------------  -----------  --------------     ---------------
WFXA-FM         Augusta, GA            15848  BLH-990326KB                4/1/04
                                              BRH-951201A4                4/1/04

Auxiliaries
--------------
Call Sign                                     File Number        Expiration Date
--------------                                --------------     ---------------
KC25254                                       9501481133                  4/1/04

                       RADIO ONE OF NORTH CAROLINA, INC.
                       ---------------------------------

FCC Licenses
-------------
Call Sign      City of License  Facility ID  File Number         Expiration Date
-------------  ---------------  -----------  ------------        ---------------
WCCJ(FM)       Harrisburg, NC         28898  BLH-950206KA                12/1/03

Auxiliaries
-------------
Call Sign                                    File Number         Expiration Date
-------------                                ------------        ---------------
WPJE693                                            501576                12/1/03
WPJA580                                                                  12/1/03
</TABLE>
                                     S-13
<PAGE>

                           Radio One of Detroit, Inc.
                           --------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign       City of License  Facility ID  File Number     Expiration Date
--------------  ---------------  -----------  --------------  ---------------
<S>             <C>              <C>          <C>             <C>
WCHB(AM)        Taylor, MI              4598  BMP-990806AB            10/1/04
                                              BL-990802DC             10/1/04
                                              BMP-980320JA            10/1/04
                                              BR-960531ZQ             10/1/04

Auxiliaries
--------------
Call Sign                                     File Number     Expiration Date
--------------                                --------------  ---------------
WME-881                                       BPST-910619MC           10/1/04

FCC Licenses
--------------
Call Sign       City of License  Facility ID  File Number     Expiration Date
--------------  ---------------  -----------  --------------  ---------------
WDTJ-FM         Detroit, MI             4597  BRH-960531XP            10/1/04

Auxiliaries
--------------
Call Sign                                     File Number     Expiration Date
--------------                                --------------  ---------------
WHA-837                                       BMLST-830916MB          10/1/04

FCC Licenses
--------------
Call Sign       City of License  Facility ID  File Number     Expiration Date
--------------  ---------------  -----------  --------------  ---------------
WJZZ(AM)        Kingsley, MI            4599  BL-980205KB             10/1/04
                                              BP-980114AA             10/1/04
                                              BP-970114AC             10/1/04
                                              BR-960531XR             10/1/04

Auxiliaries
-----------
NONE

</TABLE>
                                     S-14
<PAGE>

                            Broadcast Holdings, Inc.
                            ------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------

Call Sign      City of License   Facility ID  File Number      Expiration Date
-------------  ----------------  -----------  ---------------  ---------------
<S>            <C>               <C>          <C>              <C>
WYCB(AM)       Washington, DC           7038  BR-950601WA              10/1/03

Auxiliaries
-----------
NONE

                               ROA Licenses, Inc.
                               ------------------

FCC Licenses
------------
Call Sign      City of License   Facility ID  File Number      Expiration Date
-------------  ----------------  -----------  ---------------  ---------------
WHTA(FM)       Fayetteville, GA         3105  BMPH-981119JB             4/1/04
                                              BRH-951130ZC              4/1/04

Auxiliaries
-------------
Call Sign                                     File Number      Expiration Date
-------------                                 ---------------  ---------------
NONE

                              Allur Licenses, Inc.
                              --------------------

FCC Licenses
------------
Call Sign      City of License   Facility ID  File Number      Expiration Date
-------------  ----------------  -----------  ---------------  ---------------
WDMK(FM)       Mt. Clemens, MI         54915  BRH-960603V4             10/1/04
                                              BMLH-20000512AAD*

Auxiliaries
-----------
NONE

</TABLE>
                                     S-15
<PAGE>

<TABLE>
<CAPTION>

                             Dogwood Licenses, Inc.
                             ----------------------

FCC Licenses
------------
Call Sign    City of License  Facility ID  File Number   Expiration Date
-----------  ---------------  -----------  ------------  ---------------
<S>          <C>              <C>          <C>           <C>
WAMJ(FM)     Roswell, GA            31872  BLH-990520HA          10/1/04
                                           BLH-971222KH          10/1/04
Auxiliaries
-----------
NONE
</TABLE>

                                     S-16
<PAGE>

                                 ATTACHMENT II

                     INFINITY BROADCASTING CORP. of DALLAS
                     -------------------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign      City of License      Facility ID      File Number          Expiration Date
-------------  -------------------  ---------------  -------------------  ------------------
<S>            <C>                  <C>              <C>                  <C>
KLUV(AM)       Dallas, TX                     25375  BAL-20000518ABK*                     --
                                                     BR-970327WQ                      8/1/05
                                                     BL-960301AC                      8/1/05

*  Assignment/Transfer Application Resulting in Ownership by Radio One Licenses,
   Inc.

Auxiliaries
-------------
Call Sign                                            File Number          Expiration Date
-------------                                        -------------------  ------------------
KC27773                                              9405480800                     8/1/05
WEC21                                                0000033460                     8/1/05

                       CLEAR CHANNEL RADIO LICENSES, INC.
                       ----------------------------------

FCC Licenses
------------
Call Sign      City of License      Facility ID      File Number          Expiration Date
-------------  -------------------  ---------------  -------------------  ------------------
KBXX(FM)       Houston, TX                    11969  BALH-20000315ACS*                    --
                                                     BALH-20000328AEL**                   --
                                                     BLH-831026AD                     8/1/05
                                                     BLH-840229DM                     8/1/05
                                                     BRH-970401V6                     8/1/05

*  Assignment/Transfer Application Resulting in Ownership by Radio One Licenses,
   Inc.
** Pending Assignment Application to the CCU/AMFM Trust I, Charles E. Giddens,
   Trustee
</TABLE>
                                     S-17
<PAGE>

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                          File Number            Expiration Date
-------------                                      ---------------------  ------------------
<S>                                                <C>                    <C>
WGZ529                                             BPLST-801112ME                     8/1/05
KPE667                                             BMLRE-831103MG                     8/1/05
WHY-622                                            BPLRE-830614ME                     8/1/05
KB96320                                            871027MD                           8/1/05
WCD977                                             500682                             8/1/05
</TABLE>
                       CLEAR CHANNEL RADIO LICENSES, INC.
                       ----------------------------------

<TABLE>
<CAPTION>
FCC Licenses
------------
Call Sign      City of License     Facility ID     File Number            Expiration Date
-------------  ------------------  --------------  ---------------------  ------------------
<S>            <C>                 <C>             <C>                    <C>
KMJQ(FM)       Houston, TX                  11971  BALH-20000315ACT*                      --
                                                   BALH-20000328AEQ**                     --
                                                   BLH-901204KD                       8/1/05
                                                   BRH-970401V5                       8/1/05

*  Assignment/Transfer Application Resulting in Ownership by Radio One Licenses,
   Inc.
** Pending Assignment Application to the CCU/AMFM Trust I, Charles E. Giddens,
   Trustee
</TABLE>
<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                          File Number            Expiration Date
-------------                                      ---------------------  ------------------
<S>                                                <C>                    <C>
WGV720                                             00800GEN                         8/1/05
KOS408                                             830628MB                         8/1/05
KYY227                                             860815MC                         8/1/05
WCQ478                                             841212MA                         8/1/05
KB97239                                            900731MD                         8/1/05

</TABLE>

                                     S-18
<PAGE>

                          AMFM RADIO LICENSES, L.L.C.
                          ---------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign                        City of License      Facility ID      File Number            Expiration Date
---------                        -------------------  ---------------  ---------------------  ------------------
<S>                              <C>                  <C>              <C>                    <C>
WZAK(FM)                         Cleveland, OH                  74465  BALH-20000315ACK*                      --
                                                                       BALH-20000328AEK**                     --
                                                                       BTCH-19991116BCI***                    --
                                                                       BLH-4273                          10/1/04
                                                                       BRH-960531YK                      10/1/04
</TABLE>
*   Assignment/Transfer Application Resulting in Ownership by Radio One
    Licenses, Inc.
**  Pending assignment application to the CCU/AMFM Trust I, Charles E. Gidden,
    Trustee
*** Pending transfer of control application from Shareholders of AMFM Inc. to
    Clear Channel Communications, Inc.

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                                              File Number            Expiration Date
-------------                                                          ---------------------  ------------------
<S>                                                                    <C>                    <C>
WAC257                                                                 930419MD                          10/1/04
KC23135                                                                9308480450                        10/1/04
</TABLE>

                          AMFM RADIO LICENSES, L.L.C.
                          ---------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign                        City of License      Facility ID      File Number            Expiration Date
---------                        -------------------  ---------------  ---------------------  ------------------
<S>                              <C>                  <C>              <C>                    <C>
WVCG(AM)                         Coral Gables, FL               74165  BAL-20000315ACM*                       --
                                                                       BAL-20000328AEI**                      --
                                                                       BTC-19991116BBH***                     --
                                                                       BL-800513AA                        2/1/04
                                                                       BR-950929VF                        2/1/04

*   Assignment/Transfer Application Resulting in Ownership by Radio One
    Licenses, Inc.
**  Pending Assignment Application to the CCU/AMFM Trust I, Charles E. Giddens,
    Trustee
*** Pending transfer of control application from Shareholders of AMFM Inc. to
    Clear Channel Communications
</TABLE>

                                     S-19
<PAGE>

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                          File Number            Expiration Date
-------------                                      ---------------------  ------------------
<S>                                                <C>                    <C>
KIY675                                             921524                             2/1/04
WSJ66                                              01068GEN                           2/1/04

</TABLE>
                          CAPSTAR TX LTD. PARTNERSHIP
                          ---------------------------
<TABLE>
<CAPTION>

FCC Licenses
---------------------------------
Call Sign      City of License     Facility ID     File Number            Expiration Date
-------------  ------------------  --------------  ---------------------  ------------------
<S>            <C>                 <C>             <C>                    <C>
KBFB(FM)       Dallas, TX                    9627  BALH-20000315ACU*                      --
                                                   BALH-20000328AFT**                     --
               BLH-910515KB                8/1/05
                                                   BLH-901212KB                       8/1/05
                                                   BRH-970328M9                       8/1/05
</TABLE>
* Assignment/Transfer Application Resulting in Ownership by Radio One Licenses,
  Inc.
**Pending Assignment Application to the CCU/AMFM Trust I, Charles E. Giddens,
  Trustee

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                          File Number            Expiration Date
-------------                                      ---------------------  ------------------
<S>                                                <C>                    <C>
WMU-625                                            BPLST-931207MP                     8/1/05
KXK-20                                             BPLST-880310MG                     8/1/05

</TABLE>
                   CLEAR CHANNEL BROADCASTING LICENSES, INC.
                   -----------------------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign      City of License  Facility ID  File Number         Expiration Date
-----------    ---------------  -----------  ------------------  ---------------
<S>            <C>              <C>          <C>                 <C>
WFXC(FM)       Durham, NC             36952  BALH-20000315ACN*                --
                                             BALH-20000328AEU**               --
                                             BLH-930720KA                12/1/03
                                             BRH-950801UE                12/1/03
</TABLE>

*  Assignment/Transfer Application Resulting in Ownership by Radio One
   Licenses, Inc.
** Pending Assignment Application to the CCU/AMFM Trust I, Charles E. Giddens,
   Trustee

                                     S-20
<PAGE>

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                  File Number         Expiration Date
-------------                              ------------------  ---------------
<S>                                        <C>                 <C>
WLD-667                                    BPLST-831202WY              12/1/03
WLG-432                                    BPLST-850611MD              12/1/03
WLG-434                                    BPLST-850611MN              12/1/03
WLJ-648                                    9202121MA                   12/1/03
WPNI776                                    503041                      12/1/03
</TABLE>

                   CLEAR CHANNEL BROADCASTING LICENSES, INC.
                   -----------------------------------------

<TABLE>
<CAPTION>
FCC Licenses
------------
Call Sign    City of License  Facility ID  File Number         Expiration Date
-----------  ---------------  -----------  ------------------  ---------------
<S>          <C>              <C>          <C>                 <C>
WFXK(FM)       Tarboro, NC          24931  BALH-20000315ACO*                --
                                           BALH-20000328AEV**               --
                                           BLH-900209KD                12/1/03
                                           BRH-950728UO                12/1/03
</TABLE>
*  Assignment/Transfer Application Resulting in Ownership by Radio One Licenses,
   Inc.
** Pending Assignment Application to the CCU/AMFM Trust I, Charles E. Giddens,
   Trustee

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                  File Number         Expiration Date
-------------                              ------------------  ---------------
<S>                                        <C>                 <C>
WLF-841                                    BPLST-861014MD              12/1/03
KB-97311                                   BLNRE-900924MA              12/1/03
KB-97243                                   BLNRE-900925MH              12/1/03
WLE-213                                    BMLST-920316MQ              12/1/03
WMU-228                                    BPLIC-930608MA              12/1/03
WLE-311                                    503042                      12/1/03

</TABLE>
                                     S-21
<PAGE>

                        CLEVELAND RADIO LICENSES, L.L.C.
                        --------------------------------

<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign    City of License        Facility ID  File Number         Expiration Date
-----------  ---------------        -----------  ------------------  ---------------
<S>          <C>                    <C>          <C>                 <C>
WJMO(AM)     Cleveland Heights, OH               BALH-20000315ACJ*               --
                                                 BLH-850910AD               10/1/04
                                                 BRH-960524ZT               10/1/04
</TABLE>
*  Assignment/Transfer Application Resulting in Ownership by Radio One
   Licenses, Inc.

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                        File Number         Expiration Date
-------------                                    ------------------  ---------------
<S>                                              <C>                 <C>
WMU-640                                          BPLST-931216ML              10/1/04
KC23729                                          880818MD                    10/1/04
KQC-912                                          BLRE-14176                  10/1/04
KB8574                                           900956                      10/1/04
KE5107                                           901715                      10/1/04
</TABLE>

                   CLEAR CHANNEL BROADCASTING LICENSES, INC.
                   -----------------------------------------

<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign    City of License  Facility ID  File Number         Expiration Date
-----------  ---------------  -----------  ------------------  ---------------
<S>          <C>              <C>          <C>                 <C>
WJMZ-FM        Anderson, SC          1303  BALH-20000315ACR*                --
                                           BALH-20000328AEZ**               --
                                           BLH-790510AD                12/1/03
                                           BRH-950801VV                12/1/03
</TABLE>
*  Assignment/Transfer Application Resulting in Ownership by Radio One Licenses,
   Inc.
** Pending Assignment Application to the CCU/AMFM Trust I, Charles E. Giddens,
   Trustee

AUXILIARIES
-----------

                                     S-22
<PAGE>

<TABLE>
<CAPTION>

Call Sign                                  File Number         Expiration Date
-------------                              ------------------  ---------------
<S>                                        <C>                 <C>
WFD-561                                    BPLST-890309MH              12/1/03
</TABLE>

                   CLEAR CHANNEL BROADCASTING LICENSES, INC.
                   -----------------------------------------

<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign    City of License  Facility ID  File Number         Expiration Date
-----------  ---------------  -----------  ------------------  ---------------
<S>          <C>              <C>          <C>                 <C>
WNNL(FM)     Fuquay-Varina, NC       9728  BALH-20000315ACP*                --
                                           BLH-921001KA                12/1/03
                                           BRH-950731B9                12/1/03
</TABLE>
* Assignment/Transfer Application Resulting in Ownership by Radio One Licenses,
  Inc.

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                  File Number         Expiration Date
-------------                              ------------------  ---------------
<S>                                        <C>                 <C>
WGZ571                                     501802                      12/1/03
</TABLE>

                   CLEAR CHANNEL BROADCASTING LICENSES, INC.
                   -----------------------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign    City of License  Facility ID  File Number         Expiration Date
-----------  ---------------  -----------  ------------------  ---------------
<S>          <C>              <C>          <C>                 <C>
WQOK(FM)     South Boston, VA       69559  BALH-20000315ACQ*                --
                                           BLH-870623KC                10/1/03
                                           BRH-950601YD                10/1/03

* Assignment/Transfer Application Resulting in Ownership by Radio One Licenses,
  Inc.
</TABLE>

                                     S-23
<PAGE>

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                  File Number         Expiration Date
-------------                              ------------------  ---------------
<S>                                        <C>                 <C>
KA-21487                                   BLRE-78092NJ                10/1/03
KA-21488                                   BLRE-780928NK               10/1/03
WLO217                                     870618MB                    10/1/03
KPH867                                     870623MG                    10/1/03
KB97163                                    870826MD                    10/1/03

</TABLE>
                           AMFM RADIO LICENSES, INC.
                           -------------------------

<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign    City of License  Facility ID  File Number         Expiration Date
-----------  ---------------  -----------  ------------------  ---------------
<S>          <C>              <C>          <C>                 <C>
KKBT(FM)     Los Angeles, CA        70038  BTCH-19991116BAA*               --
                                           BALH-20000315ACL**              --
                                           BALH-20000328ADL***             --
                                           BLH-961210KA               12/1/05
                                           BRH-970730ZC               12/1/05
</TABLE>

*   Pending transfer of control application from the Shareholders of AMFM Inc.
    to Clear Channel Communications
**  Assignment/Transfer Application Resulting in Ownership by Radio One
    Licenses, Inc.
*** Pending Assignment Application to The CCU/AMFM Trust I, Charles E. Giddens,
    Trustee held conditionally on the grant of the assignment to Radio One and
    then dismissed.

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                  File Number         Expiration Date
-------------                              ------------------  ---------------
<S>                                        <C>                 <C>
WPOT233                                    505648                      12/1/05
KSZ63                                      505647                      12/1/05

</TABLE>

                                   S-24
<PAGE>

                            SINCLAIR TELECABLE, INC.
                            ------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign    City of License  Facility ID  File Number         Expiration Date
-----------  ---------------  -----------  ------------------  ---------------
<S>          <C>              <C>          <C>                 <C>
WCDX(FM)    Mechanicsville, VA      60473  BALH-990601EB*                   --
                                           BPH-960828IC**                   --
                                           BMLH-960816KA**                  --
                                           BLH-960117KA                10/1/03
                                           BRH-950601ZE                10/1/03
</TABLE>
*  The acquisition of this station has been approved by the FCC, but the
   acquisition has not yet been consummated.
** Grant of these applications is pending

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                  File Number         Expiration Date
-------------                              ------------------  ---------------
<S>                                        <C>                 <C>
WPJB-291                                   500979                     10/1/03
</TABLE>

                            SINCLAIR TELECABLE, INC.
                            ------------------------
<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign    City of License  Facility ID  File Number         Expiration Date
-----------  ---------------  -----------  ------------------  ---------------
<S>          <C>              <C>          <C>                 <C>
WGCV(AM)     Petersburg, VA         60474  BAL-990601ED*                   --
                                           BR-950601A9                10/1/03
</TABLE>
* The acquisition of this station has been approved by the FCC, but the
  acquisition has not yet been consummated.

Auxiliaries
-----------
NONE

                                     S-25
<PAGE>

                            SINCLAIR TELECABLE, INC.
                            ------------------------

<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign    City of License  Facility ID  File Number         Expiration Date
-----------  ---------------  -----------  ------------------  ---------------
<S>          <C>              <C>          <C>                 <C>
WPLZ-FM      Petersburg, VA         60477  BALH-990601EC                    --
                                           BR-950601XS                 10/1/03
</TABLE>

* The acquisition of this station has been approved by the FCC, but the
  acquisition has not yet been consummated.

<TABLE>
<CAPTION>

Auxiliaries
-------------
Call Sign                                  File Number         Expiration Date
-------------                              ------------------  ---------------
<S>                                        <C>                 <C>
WPJB-290                                   500978                      10/1/03
WPJB-292                                   500980                      10/1/03
</TABLE>

                         COMMONWEALTH BROADCASTING, LLC
                         ------------------------------

<TABLE>
<CAPTION>

FCC Licenses
------------
Call Sign    City of License  Facility ID  File Number         Expiration Date
-----------  ---------------  -----------  ------------------  ---------------
<S>          <C>              <C>          <C>                 <C>
WJRV(FM)     Richmond, VA            3725  BALH-990601EA*                  --
                                           BPH-981023KA               10/1/03

</TABLE>
*    The acquisition of this station has been approved by the FCC, but the
acquisition has not yet been consummated.

Auxiliaries
-----------
NONE

                                    S-26
<PAGE>

                                 ATTACHMENT III

<TABLE>
<CAPTION>

Company/Subsidiary             State of Incorporation    Qualification Jurisdictions
------------------             ----------------------    ---------------------------
<S>                            <C>                       <C>
Radio One, Inc.                Delaware                  California
                                                         District of Columbia
                                                         Florida
                                                         Illinois
                                                         Indiana
                                                         Maryland
                                                         Massachusetts
                                                         Michigan
                                                         Missouri
                                                         North Carolina
                                                         Ohio
                                                         Pennsylvania
                                                         South Carolina
                                                         Virginia

Radio One Licenses, Inc.       Delaware                  District of Columbia
                                                         Illinois
                                                         Maryland
                                                         Massachusetts
                                                         Missouri
                                                         Ohio
                                                         Pennsylvania
                                                         Virginia

Bell Broadcasting Company      Michigan                  Maryland

Radio One of Detroit, Inc.     Delaware                  Maryland

Allur-Detroit, Inc.            Delaware                  Michigan

Allur-Licenses, Inc.           Delaware                  Michigan

Radio One of Atlanta, Inc.     Delaware                  Georgia

ROA Licenses, Inc.             Delaware                  Georgia

Dogwood Communications, Inc.   Delaware                  Georgia

Dogwood Licenses, Inc.         Delaware                  Georgia
</TABLE>

                                     S-27
<PAGE>

<TABLE>
<CAPTION>

Company/Subsidiary                       State of Incorporation    Qualification Jurisdictions
------------------                       ----------------------    ---------------------------
<S>                                      <C>                       <C>
Radio One of Augusta, Inc.               Delaware                  Georgia
                                                                   North Carolina

Radio One of North Carolina, Inc.        Delaware                  North Carolina

Radio One of Charlotte, LLC              Delaware                  South Carolina
                                                                   Georgia

Davis Broadcasting of Charlotte, Inc.    Delaware                  North Carolina

Radio One of Boston, Inc.                Delaware                  Massachusetts

WYCB Acquisition                         Delaware
Corporation

Broadcast Holdings, Inc.                 District of Columbia
</TABLE>

                                     S-28
<PAGE>

                                 ATTACHMENT IV

RADIO ONE LICENSES, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                 NUMBER OF SHARES ISSUED
      AUTHORIZED                            AND CLASS
----------------------------------------------------------------------
        1,000                        99 shares Common Stock
----------------------------------------------------------------------

BELL BROADCASTING COMPANY

----------------------------------------------------------------------
    NUMBER OF SHARES                 NUMBER OF SHARES ISSUED
      AUTHORIZED                            AND CLASS
----------------------------------------------------------------------
           800                  800 shares of Class A Voting Common
----------------------------------------------------------------------
        24,000                     20,070.55 shares of Class B
                                        Non-Voting Common
----------------------------------------------------------------------

WYCB ACQUISITION CORPORATION

----------------------------------------------------------------------
    NUMBER OF SHARES                 NUMBER OF SHARES ISSUED
      AUTHORIZED                            AND CLASS
----------------------------------------------------------------------
        1,000                        100 shares Common Stock
----------------------------------------------------------------------

BROADCAST HOLDINGS, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                 NUMBER OF SHARES ISSUED
      AUTHORIZED                            AND CLASS
----------------------------------------------------------------------
          1,000                         100 Common Stock
----------------------------------------------------------------------
        500,000                   0 Non-Voting Preferred Stock
----------------------------------------------------------------------

                                     S-29
<PAGE>

RADIO ONE OF DETROIT, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                 NUMBER OF SHARES ISSUED
      AUTHORIZED                            AND CLASS
----------------------------------------------------------------------
         1,000                       100 shares Common Stock
----------------------------------------------------------------------

ALLUR - DETROIT, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                 NUMBER OF SHARES ISSUED
      AUTHORIZED                            AND CLASS
----------------------------------------------------------------------
         1,000                       400 shares Common Stock
----------------------------------------------------------------------
         2,100                    0 Non-Voting Preferred Stock
----------------------------------------------------------------------

ALLUR LICENSES, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                 NUMBER OF SHARES ISSUED
      AUTHORIZED                            AND CLASS
----------------------------------------------------------------------
        1,000                        100 shares Common Stock
----------------------------------------------------------------------

RADIO ONE OF ATLANTA, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                 NUMBER OF SHARES ISSUED
      AUTHORIZED                            AND CLASS
----------------------------------------------------------------------
         10,000                  100 shares Class A Common Stock
----------------------------------------------------------------------
          4,670                       0 Class B Common Stock
----------------------------------------------------------------------

                                     S-30
<PAGE>

ROA LICENSES, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                 NUMBER OF SHARES ISSUED
      AUTHORIZED                            AND CLASS
----------------------------------------------------------------------
         1,000                       100 shares Common Stock
----------------------------------------------------------------------

DOGWOOD COMMUNICATIONS, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                 NUMBER OF SHARES ISSUED
      AUTHORIZED                            AND CLASS
----------------------------------------------------------------------
         4,230                  920 shares of Voting Common Stock
----------------------------------------------------------------------
           400                280 shares of Non-Voting Common Stock
----------------------------------------------------------------------

DOGWOOD LICENSES, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                       NUMBER OF SHARES
      AUTHORIZED                              AUTHORIZED
----------------------------------------------------------------------
         1,000                        100 shares of Common Stock
----------------------------------------------------------------------

RADIO ONE OF AUGUSTA, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                       NUMBER OF SHARES
      AUTHORIZED                              AUTHORIZED
----------------------------------------------------------------------
        1,000                         100 shares of Common Stock
----------------------------------------------------------------------

                                     S-31
<PAGE>

DAVIS BROADCASTING OF CHARLOTTE, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                       NUMBER OF SHARES
      AUTHORIZED                              AUTHORIZED
----------------------------------------------------------------------
         1,000                        280 shares of Common Stock
----------------------------------------------------------------------

RADIO ONE OF NORTH CAROLINA, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                       NUMBER OF SHARES
      AUTHORIZED                              AUTHORIZED
----------------------------------------------------------------------
         1,000                        100 shares of Common Stock
----------------------------------------------------------------------

RADIO ONE OF BOSTON, INC.

----------------------------------------------------------------------
    NUMBER OF SHARES                       NUMBER OF SHARES
      AUTHORIZED                              AUTHORIZED
----------------------------------------------------------------------
         1,000                        100 shares of Common Stock
----------------------------------------------------------------------

                                     S-32<PAGE>

                                                                    Exhibit 10.1
                                                                    ------------

                               ITC/\DELTACOM, INC.
                             1997 STOCK OPTION PLAN
                             (Amended and Restated)
<PAGE>

                     TABLE OF CONTENTS
                                                            Page
                                                            ----
1.  PURPOSE................................................   1
2.  DEFINITIONS............................................   1
3.  ADMINISTRATION.........................................   3
    3.1.  Committee........................................   3
    3.2.  No Liability.....................................   4
4.  STOCK..................................................   4
5.  ELIGIBILITY............................................   4
6.  EFFECTIVE DATE AND TERM................................   4
    6.1.  Effective Date...................................   4
    6.2.  Term.............................................   5
7.  GRANT OF OPTIONS.......................................   5
8.  LIMITATION ON INCENTIVE STOCK OPTIONS..................   5
9.  OPTION AGREEMENTS......................................   5
10. OPTION PRICE...........................................   6
11. TERM AND EXERCISE OF OPTIONS...........................   6
    11.1.  Term............................................   6
    11.2.  Exercise by Optionee............................   6
    11.3.  Option Period and Limitations on Exercise.......   6
    11.4.  Method of Exercise..............................   7
    11.5.  Parachute Limitations...........................   8
12. TRANSFERABILITY OF OPTIONS.............................   9
13. TERMINATION OF SERVICE RELATIONSHIP....................   9
14. RIGHTS IN THE EVENT OF DEATH OR DISABILITY.............  10
    14.1.  Death...........................................  10
    14.2.  Disability......................................  11
15. USE OF PROCEEDS........................................  11
16. SECURITIES LAWS........................................  11
17. EXCHANGE ACT: RULE 16B-3...............................  12
    17.1.  General.........................................  12
    17.2.  Compensation Committee..........................  12
    17.3.  Restriction on Transfer of Stock................  13
18. AMENDMENT AND TERMINATION..............................  13
19. EFFECT OF CHANGES IN CAPITALIZATION....................  13
    19.1.  Changes in Stock................................  13
    19.2.  Reorganization With Corporation Surviving.......  14
    19.3.  Other Reorganizations; Sale of Assets or Stock..  14
    19.4.  Adjustments.....................................  15
    19.5.  No Limitations on Corporation...................  15
20. WITHHOLDING............................................  15
21. DISCLAIMER OF RIGHTS...................................  15
22. NONEXCLUSIVITY.........................................  16
23. GOVERNING LAW..........................................  16

                                   i
<PAGE>

                               ITC/\DELTACOM, INC.
                             1997 STOCK OPTION PLAN
                             (Amended and Restated)

          ITC/\DELTACOM, INC., a Delaware corporation (the "Corporation"), sets
forth herein the terms of the 1997 Stock Option Plan (the "Plan") as follows:

1.  PURPOSE

          The Plan is intended to advance the interests of the Corporation by
providing eligible individuals (as designated pursuant to Section 5 hereof) an
opportunity to acquire or increase a proprietary interest in the Corporation,
which thereby will create a stronger incentive to expend maximum effort for the
growth and success of the Corporation and its subsidiaries and will encourage
such eligible individuals to continue to service the Corporation.

2.  DEFINITIONS

          For purposes of interpreting the Plan and related documents (including
Option Agreements), the following definitions shall apply:

          2.1  "Affiliate" means any company or other trade or business that is
controlled by or under common control with the Corporation, (determined in
accordance with the principles of Section 414(b) and 414(c) of the Code and the
regulations thereunder) or is an affiliate of the Corporation within the meaning
of Rule 405 of Regulation C under the 1933 Act.

          2.2  "Board" means the Board of Directors of the Corporation.

          2.3  "Cause" means, unless otherwise defined in an Option Agreement,
(i) gross negligence or willful misconduct in connection with the performance of
duties; (ii) conviction of a criminal offense (other than minor traffic
offenses); or (iii) material breach of any term of any employment, consulting or
other services, confidentiality, intellectual property or non-competition
agreements, if any, between Optionee and the Corporation or any of its
Subsidiaries or Affiliates.

          2.4  "Code" means the Internal Revenue Code of 1986, as now in effect
or as hereafter amended.

          2.5  "Committee" means the Compensation Committee of the Board which
must consist of no fewer than two members of the Board and shall be appointed by
the Board.

          2.6  "Corporation" means ITC/\DELTACOM, Inc.
<PAGE>

          2.7  "Effective Date" means the date of adoption of the Plan by the
Board.

          2.8  "Employer" means ITC/\DELTACOM, Inc. or the Subsidiary, Affiliate
or majority stockholder of the Corporation which employs the designated
recipient of an Option.

          2.9  "Exchange Act" means the Securities Exchange Act of 1934, as now
in effect or as hereafter amended.

          2.10  "Fair Market Value" means the value of each share of Stock
subject to the Plan determined as follows:  if on the Grant Date or other
determination date the shares of Stock are listed on an established national or
regional stock exchange, are admitted to quotation on the National Association
of Securities Dealers Automated Quotation System, or are publicly traded on an
established securities market, the Fair Market Value of the shares of Stock
shall be the closing price of the shares of Stock on such exchange or in such
market (the highest such closing price if there is more than one such exchange
or market) on the trading day immediately preceding the Grant Date (or on the
Grant Date, if so specified by the Committee or the Board) or such other
determination date (or if there is no such reported closing price, the Fair
Market Value shall be the mean between the highest bid and lowest asked prices
or between the high and low sale prices on such trading day) or, if no sale of
the shares of Stock is reported for such trading day, on the next preceding day
on which any sale shall have been reported.  If the shares of Stock are not
listed on such an exchange, quoted on such System or traded on such a market,
Fair Market Value shall be determined by the Board in good faith.

          2.11  "Grant Date" means the later of (i) the date as of which the
Committee approves the grant and (ii) the date as of which the Optionee and the
Corporation, Subsidiary, Affiliate or majority stockholder of the Corporation
enter the relationship resulting in the Optionee being eligible for grants.

          2.12  "Family Member" means a person who is a spouse, child,
stepchild, grandchild, parent, stepparent, grandparent, sibling, niece, nephew,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or
sister-in-law, including adoptive relationships, of the Optionee, any person
sharing the Optionee's household (other than a tenant or employee), a trust in
which these persons (or the Optionee) have more than fifty percent of the
beneficial interest, a foundation in which these persons (or the Optionee)
control the management of assets, and any other entity in which these persons
(or the Optionee) own more than fifty percent of the voting interests.

          2.13  "Incentive Stock Option" means an "incentive stock option"
within the meaning of section 422 of the Code.

                                       2
<PAGE>

          2.14  "Option" means an option to purchase one or more shares of Stock
pursuant to the Plan.

          2.15  "Option Agreement" means the written agreement evidencing the
grant of an Option hereunder.

          2.16  "Optionee" means a person who holds an Option under the Plan.

          2.17  "Option Period" means the period during which Options may be
exercised as defined in Section 11.

          2.18  "Option Price" means the purchase price for each share of Stock
subject to an Option.

          2.19  "Plan" means the ITC/\DELTACOM, Inc. 1997 Stock Option Plan.

          2.20  "1933 Act" means the Securities Act of 1933, as now in effect or
as hereafter amended.

          2.21  "Service Relationship" means  the provision of bona fide
services to the Corporation, a Subsidiary, an Affiliate or the majority
stockholder as an employee, director, advisor or consultant.

          2.22  "Stock" mean the shares of Common Stock, par value $.01 per
share, of the Corporation.

          2.23  "Subsidiary" means any "subsidiary corporation" of the
Corporation within the meaning of Section 425(f) of the Code.

3.  ADMINISTRATION

    3.1.  Committee

          The Plan shall be administered by the Committee appointed by the
Board, which shall have the full power and authority to take all actions and to
make all determinations required or provided for under the Plan or any Option
granted or Option Agreement entered into hereunder and all such other actions
and determinations not inconsistent with the specific terms and provisions of
the Plan deemed by the Committee to be necessary or appropriate to the
administration of the Plan or any Option granted or Option Agreement entered
into hereunder.  The interpretation and construction by the Committee of any
provision of the Plan or of

                                       3
<PAGE>

any Option granted or Option Agreement entered into hereunder shall be final and
conclusive.

    3.2.  No Liability

          No member of the Board or of the Committee shall be liable for any
action or determination made, or any failure to take or make an action or
determination, in good faith with respect to the Plan or any Option granted or
Option Agreement entered into hereunder.

4.  STOCK

          The stock that may be issued pursuant to Options granted under the
Plan shall be Stock, which shares may be treasury shares or authorized but
unissued shares.  The number of shares of Stock that may be issued pursuant to
Options granted under the Plan shall not exceed in the aggregate 9,815,000
shares of Stock, which number of shares is subject to adjustment as provided in
Section 19 hereof.  If any Option expires, terminates or is terminated for any
reason prior to exercise in full, the shares of Stock that were subject to the
unexercised portion of such Option shall be available for future Options granted
under the Plan.

5.  ELIGIBILITY

          Options may be granted under the Plan to (i) any officer or key
employee of the Corporation, any Subsidiary, any Affiliate or the majority
stockholder of the Corporation (including any such officer or key employee who
is also a director of the Corporation, any Subsidiary, any Affiliate or the
majority stockholder of the Corporation) or (ii) any other individual whose
participation in the Plan is determined to be in the best interests of the
Corporation by the Committee.  An individual may hold more than one Option,
subject to such restrictions as are provided herein.

6.  EFFECTIVE DATE AND TERM

    6.1.  Effective Date

          The Plan shall become effective as of the date of adoption by the
Board, subject to stockholders' approval of the Plan within one year of such
effective date by a majority of the votes cast at a duly held meeting of the
stockholders of the Corporation at which a quorum representing a majority of all
outstanding stock is present, either in person or by proxy, and voting on the
matter, or by written consent in accordance with applicable state law and the
Certificate of Incorporation and By-Laws of the Corporation; provided, however,
                                                             --------  -------
that upon approval of the Plan by the stockholders of the Corporation, all
Options granted under the Plan on or after the effective date shall be fully
effective as if the stockholders of the Corporation had approved the Plan on the
effective date.  If the stockholders fail to

                                       4
<PAGE>

approve the Plan within one year of such effective date, any Options granted
hereunder shall be null, void and of no effect.

    6.2.  Term

          If not sooner terminated by the Board, the Plan shall terminate on the
date 10 years after the effective date.

7.  GRANT OF OPTIONS

          Subject to the terms and conditions of the Plan, the Committee may, at
any time and from time to time prior to the date of termination of the Plan,
grant to such eligible individuals as the Committee may determine Options to
purchase such number of shares of Stock on such terms and conditions as the
Committee may determine, including any terms or conditions which may be
necessary to qualify such Options as Incentive Stock Options.  Without limiting
the foregoing, the Committee may at any time, with the consent of the Optionee,
amend the terms of outstanding Options or issue new Options in exchange for the
surrender and cancellation of outstanding Options.  The date on which the
Committee approves the grant of an Option (or such later date as is specified by
the Committee) shall be considered the date on which such Option is granted.
The maximum number of shares of Stock subject to Options that can be awarded
under the Plan to any person is 1,605,000 shares, which number of shares is
subject to adjustment as provided in Section 19 hereof.

8.  LIMITATION ON INCENTIVE STOCK OPTIONS

          An Option shall constitute an Incentive Stock Option only to the
extent that (i) it is designated an Incentive Stock Option and (ii) the
aggregate fair market value (determined at the time the Option is granted) of
the Stock with respect to which Incentive Stock Options are exercisable for the
first time by any Optionee during any calendar year (under the Plan and all
other plans of the Optionee's employer corporation and its parent and subsidiary
corporations within the meaning of Section 422(d) of the Code) does not exceed
$100,000.  This limitation shall be applied by taking Options into account in
the order in which such Options were granted.

9.  OPTION AGREEMENTS

          All Options granted pursuant to the Plan shall be evidenced by written
agreements to be executed by the Corporation and the Optionee, in such form or
forms as the Committee shall from time to time determine.  Option Agreements
covering Options granted from time to time or at the same time need not contain
similar provisions; provided, however, that all such Option Agreements shall
                    --------  -------
comply with all terms of the Plan.

                                       5
<PAGE>

10.  OPTION PRICE

          The purchase price of each share of Stock subject to an Option shall
be fixed by the Committee and stated in each Option Agreement.  In the case of
an Option that is intended to constitute an Incentive Stock Option, the Option
Price shall be not less than the greater of par value or 100 percent of the fair
market value of a share of the Stock covered by the Option on the date the
Option is granted (as determined in good faith by the Committee); provided,
                                                                  --------
however, that in the event the Optionee would otherwise be ineligible to receive
-------
an Incentive Stock Option by reason of the provisions of Sections 422(b)(6) and
424(d) of the Code (relating to stock ownership of more than 10 percent), the
Option Price of an Option which is intended to be an Incentive Stock Option
shall be not less than the greater of par value or 110 percent of the fair
market value of a share of the Stock covered by the Option at the time such
Option is granted.  In the case of an Option not intended to constitute an
Incentive Stock Option, the Option Price shall be not less than the par value of
a share of the Stock covered by the Option on the date the Option is granted.

11.  TERM AND EXERCISE OF OPTIONS

     11.1.  Term

          Each Option granted under the Plan shall terminate and all rights to
purchase shares thereunder shall cease upon the expiration of 10 years from the
date such Option is granted, or on such date prior thereto as may be fixed by
the Committee and stated in the Option Agreement relating to such Option;
provided, however, that in the event the Optionee would otherwise be ineligible
--------  -------
to receive an Incentive Stock Option by reason of the provisions of Sections
422(b)(6) and 424(d) of the Code (relating to stock ownership of more than 10
percent), an Option granted to such Optionee which is intended to be an
Incentive Stock Option shall in no event be exercisable after the expiration of
five years from the date it is granted.

     11.2.  Exercise by Optionee

          Only the Optionee receiving an Option or a transferee of an Option
pursuant to Section 12 (or, in the event of the Optionee's legal incapacity or
incompetency, the Optionee's guardian or legal representative, and in the case
of the Optionee's death, the Optionee's estate) may exercise the Option.

     11.3.  Option Period and Limitations on Exercise

          Each Option granted under the Plan shall be exercisable in whole or in
part at any time and from time to time over a period commencing on or after the
date of grant of the Option and ending upon the expiration or termination of the
Option, as the Committee shall determine and set forth in the Option Agreement
relating to such Option.  Without limitation of the foregoing, the Committee,
subject

                                       6
<PAGE>

to the terms and conditions of the Plan, may in its sole discretion
provide that an Option may not be exercised in whole or in part for any period
or periods of time during which such Option is outstanding as the Committee
shall determine and set forth in the Option Agreement relating to such Option.
Any such limitation on the exercise of an Option contained in any Option
Agreement may be rescinded, modified or waived by the Committee, in its sole
discretion, at any time and from time to time after the date of grant of such
Option.  Notwithstanding any other provisions of the Plan, no Option shall be
exercisable in whole or in part prior to the date the Plan is approved by the
stockholders of the Corporation as provided in Section 6.1 hereof.

     11.4.  Method of Exercise

          An Option that is exercisable hereunder may be exercised by delivery
to the Corporation on any business day, at its principal office addressed to the
attention of the Committee, of written notice of exercise, which notice shall
specify the number of shares for which the Option is being exercised, and shall
be accompanied by payment in full of the Option Price of the shares for which
the Option is being exercised.  Payment of the Option Price for the shares of
Stock purchased pursuant to the exercise of an Option shall be made, as
determined by the Committee and set forth in the Option Agreement pertaining to
an Option, (a) in cash or by certified check payable to the order of the
Corporation; (b) through the tender to the Corporation of shares of Stock which,
if acquired from the Company, have been owned by the Optionee no less than six
(6) months and which shares shall be valued, for purposes of determining the
extent to which the Option Price has been paid thereby, at their Fair Market
Value on the date of exercise; (c) to the extent permitted by applicable law and
under the terms of the Option Agreement with respect to such Option, by causing
the Corporation to withhold shares of Stock otherwise issuable pursuant to the
exercise of an Option equal in value to the Option Price or portion thereof to
be satisfied pursuant to this clause (c); or (d) by a combination of the methods
described in Sections 11.4(a), 11.4(b) and 11.4(c) hereof; provided, however,
                                                           --------  -------
that the Committee may in its discretion impose and set forth in the Option
Agreement pertaining to an Option such limitations or prohibitions on the use of
shares of Stock to exercise Options as it deems appropriate.  Payment in full of
the Option Price need not accompany the written notice of exercise provided the
notice directs that the Stock certificate or certificates for the shares for
which the Option is exercised be delivered to a licensed broker acceptable to
the Corporation as the agent for the individual exercising the Option and, at
the time such Stock certificate or certificates are delivered, the broker
tenders to the Corporation cash (or cash equivalents acceptable to the
Corporation) equal to the Option Price plus the amount (if any) of federal
and/or other taxes which the Corporation may, in its judgment, be required to
withhold with respect to the exercise of the Option.  An attempt to exercise any
Option granted hereunder other than as set forth above shall be invalid and of
no force and effect.  Promptly after the exercise of an Option and the payment
in full of the Option Price of the shares of

                                       7
<PAGE>

Stock covered thereby, the individual exercising the Option shall be entitled to
the issuance of a Stock certificate or certificates evidencing such individual's
ownership of such shares. A separate Stock certificate or certificates shall be
issued for any shares purchased pursuant to the exercise of an Option which is
an Incentive Stock Option, which certificate or certificates shall not include
any shares which were purchased pursuant to the exercise of an Option which is
not an Incentive Stock Option. An individual holding or exercising an Option
shall have none of the rights of a stockholder until the shares of Stock covered
thereby are fully paid and issued to such individual and, except as provided in
Section 19 hereof, no adjustment shall be made for dividends or other rights for
which the record date is prior to the date of such issuance.

     11.5.  Parachute Limitations

          Notwithstanding any other provision of this Plan or of any other
agreement, contract, or understanding heretofore or hereafter entered into by
the Optionee with the Corporation or any Subsidiary, except an agreement,
contract, or understanding hereafter entered into that expressly modifies or
excludes application of this paragraph (an "Other Agreement"), and
notwithstanding any formal or informal plan or other arrangement heretofore or
hereafter adopted by the Corporation (or any such Subsidiary) for the direct or
indirect provision of compensation to the Optionee (including groups or classes
of participants or beneficiaries of which the Optionee is a member), whether or
not such compensation is deferred, is in cash, or is in the form of a benefit to
or for the Optionee (a "Benefit Arrangement"), if the Optionee is a
"disqualified individual," as defined in Section 280G(c) of the Code, any Option
held by that Optionee and any right to receive any payment or other benefit
under this Plan shall not become exercisable or vested (i) to the extent that
such right to exercise, vesting, payment, or benefit, taking into account all
other rights, payments, or benefits to or for the Optionee under this Plan, all
Other Agreements, and all Benefit Arrangements, would cause any payment or
benefit to the Optionee under this Plan to be considered a "parachute payment"
within the meaning of Section 280G(b)(2) of the Code as then in effect (a
"Parachute Payment") and (ii) if, as a result of receiving a Parachute Payment,
                     ---
the aggregate after-tax amounts received by the Optionee from the Corporation
under this Plan, all Other Agreements, and all Benefit Arrangements would be
less than the maximum after-tax amount that could be received by Optionee
without causing any such payment or benefit to be considered a Parachute
Payment.  In the event that the receipt of any such right to exercise, vesting,
payment, or benefit under this Plan, in conjunction with all other rights,
payments, or benefits to or for the Optionee under any Other Agreement or any
Benefit Arrangement would cause the Optionee to be considered to have received a
Parachute Payment under this Plan that would have the effect of decreasing the
after-tax amount received by the Optionee as described in clause (ii) of the
preceding sentence, then the Optionee shall have the right, in the Optionee's
sole discretion, to designate those rights, payments, or benefits under this
Plan, any

                                       8
<PAGE>

Other Agreements, and any Benefit Arrangements that should be reduced or
eliminated so as to avoid having the payment or benefit to the Optionee under
this Plan be deemed to be a Parachute Payment.

12.  TRANSFERABILITY OF OPTIONS

     12.1.  Transferability of Options

          Except as provided in Section 12.2, during the lifetime of an
Optionee, only the Optionee (or, in the event of legal incapacity or
incompetency, the Optionee's guardian or legal representative) may exercise an
Option.  Except as provided in Section 12.2, no Option shall be assignable or
transferable by the Optionee to whom it is granted, other than by will or the
laws of descent and distribution.

     12.2.  Family Transfers.

          Subject to the terms of the applicable Option Agreement, an Optionee
may transfer all or part of an Option which is not an Incentive Stock Option to
any Family Member; provided that subsequent transfers of transferred Options are
prohibited except those in accordance with this Section 12.2 or by will or the
laws of descent and distribution; and, provided further, that, except with the
consent of the Board or the Committee, there may be no consideration for any
transfer made pursuant to this section.  Following transfer, any such Option
shall continue to be subject to the same terms and conditions as were applicable
immediately prior to transfer, provided that for purposes of Section 12.2 hereof
the term "Optionee" shall be deemed to refer to the transferee.  The events of
termination of the Service Relationship of Sections 13 and 14 hereof shall
continue to be applied with respect to the original Optionee, following which
the Option shall be exercisable by the transferee only to the extent, and for
the periods, specified in Section 11.3.

13.  TERMINATION OF SERVICE RELATIONSHIP

          Upon the termination of the Service Relationship of an Optionee with
the Corporation, a Subsidiary or an Affiliate, other than by reason of the death
or "permanent and total disability" (within the meaning of Section 22(e)(3) of
the Code) of such Optionee or for Cause, any Option granted to an Optionee
pursuant to the Plan shall continue to be exercisable only to the extent that it
was exercisable immediately before such termination; provided, however, such
                                                     --------  -------
Option shall terminate thirty (30) days after the date of such termination of
Service Relationship, unless earlier terminated pursuant to Section 11.1 hereof,
and such Optionee shall have no further right to purchase shares of Stock
pursuant to such Option; and provided further, that the Committee may provide,
                             -------- -------
by inclusion of appropriate language in any Option Agreement, that an Optionee
may (subject to the general limitations on exercise set forth in Section 11.3
hereof), in the event of

                                       9
<PAGE>

termination of the Service Relationship of the Optionee with the Corporation, a
Subsidiary or an Affiliate, exercise an Option, in whole or in part, at any time
subsequent to such termination of Service Relationship and prior to termination
of the Option pursuant to Section 11.1 hereof, either subject to or without
regard to any installment limitation on exercise imposed pursuant to Section
11.3 hereof, as the Committee, in its sole and absolute discretion, shall
determine and set forth in the Option Agreement. Upon the termination of the
Service Relationship of an Optionee with the Corporation, a Subsidiary or an
Affiliate for Cause, any Option granted to an Optionee pursuant to the Plan
shall terminate and such Optionee shall have no further right to purchase shares
of Stock pursuant to such Option; and provided however, that the Committee may
                                      ----------------
provide, by inclusion of appropriate language in any Option Agreement, that an
Optionee may (subject to the general limitations on exercise set forth in
Section 11.3 hereof), in the event of termination of the Service Relationship of
the Optionee with the Corporation, a Subsidiary or an Affiliate for Cause,
exercise an Option, in whole or in part, at any time subsequent to such
termination of Service Relationship and prior to termination of the Option
pursuant to Section 11.1 hereof, either subject to or without regard to any
installment limitation on exercise imposed pursuant to Section 11.3 hereof, as
the Committee, in its sole and absolute discretion, shall determine and set
forth in the Option Agreement. Whether a leave of absence or leave on military
or government service shall constitute a termination of Service Relationship for
purposes of the Plan shall be determined by the Committee, which determination
shall be final and conclusive. For purposes of the Plan, including without
limitation this Section 13 and Section 14, unless otherwise provided in an
Option Agreement, a termination of Service Relationship with the Corporation, a
Subsidiary or an Affiliate shall not be deemed to occur if the Optionee
immediately thereafter has a Service Relationship with the Corporation, any
other Subsidiary or any other Affiliate.

14.  RIGHTS IN THE EVENT OF DEATH OR DISABILITY

     14.1.  Death

          If an Optionee dies while in a Service Relationship with the
Corporation, a Subsidiary or an Affiliate or within the period following the
termination of such Service Relationship during which the Option is exercisable
under Section 13 or 14.2 hereof, the executors, administrators, legatees or
distributees of such Optionee's estate shall have the right (subject to the
general limitations on exercise set forth in Section 11.3 hereof), at any time
within one year after the date of such Optionee's death and prior to termination
of the Option pursuant to Section 11.1 hereof, to exercise, in whole or in part,
any Option held by such Optionee at the date of such Optionee's death, whether
or not such Option was exercisable immediately prior to such Optionee's death;
provided, however, that the Committee may provide by inclusion of appropriate
--------  -------
language in any Option Agreement that, in the event of the death of an Optionee,
the executors, administrators, legatees or distributees of such Optionee's
estate may exercise an

                                       10
<PAGE>

Option (subject to the general limitations on exercise set forth in Section 11.3
hereof), in whole or in part, at any time subsequent to such Optionee's death
and prior to termination of the Option pursuant to Section 11.1 hereof, either
subject to or without regard to any installment limitation on exercise imposed
pursuant to Section 11.3 hereof, as the Committee, in its sole and absolute
discretion, shall determine and set forth in the Option Agreement.

     14.2.  Disability

          If an Optionee terminates a Service Relationship with the Corporation,
a Subsidiary or an Affiliate by reason of the "permanent and total disability"
(within the meaning of Section 22(e)(3) of the Code) of such Optionee, then such
Optionee shall have the right (subject to the general limitations on exercise
set forth in Section 11.3 hereof), at any time within one year after such
termination of Service Relationship and prior to termination of the Option
pursuant to Section 11.1 hereof, to exercise, in whole or in part, any Option
held by such Optionee at the date of such termination of Service Relationship,
whether or not such Option was exercisable immediately prior to such termination
of Service Relationship; provided, however, that the Committee may provide, by
                         --------  -------
inclusion of appropriate language in any Option Agreement, that an Optionee may
(subject to the general limitations on exercise set forth in Section 11.3
hereof), in the event of the termination of the Service Relationship of the
Optionee with the Corporation or a Subsidiary by reason of the "permanent and
total disability" (within the meaning of Section 22(e)(3) of the Code) of such
Optionee, exercise an Option, in whole or in part, at any time subsequent to
such termination of Service Relationship and prior to termination of the Option
pursuant to Section 11.1 hereof, either subject to or without regard to any
installment limitation on exercise imposed pursuant to Section 11.3 hereof, as
the Committee, in its sole and absolute discretion, shall determine and set
forth in the Option Agreement.  Whether a termination of a Service Relationship
is to be considered by reason of "permanent and total disability" for purposes
of the Plan shall be determined by the Committee, which determination shall be
final and conclusive.

15.  USE OF PROCEEDS
          The proceeds received by the Corporation from the sale of Stock
pursuant to Options granted under the Plan shall constitute general funds of the
Corporation.

16.  SECURITIES LAWS

          The Corporation shall not be required to sell or issue any shares of
Stock under any Option if the sale or issuance of such shares would constitute a
violation by the individual exercising the Option or by the Corporation of any
provisions of any law or regulation of any governmental authority, including,
without limitation, any federal or state securities laws or regulations.  If at
any

                                       11
<PAGE>

time the Corporation shall determine, in its discretion, that the listing,
registration or qualification of any shares subject to the Option upon any
securities exchange or under any state or federal law, or the consent of any
government regulatory body, is necessary or desirable as a condition of, or in
connection with, the issuance or purchase of shares, the Option may not be
exercised in whole or in part unless such listing, registration, qualification,
consent or approval shall have been effected or obtained free of any conditions
not acceptable to the Corporation, and any delay caused thereby shall in no way
affect the date of termination of the Option.  Specifically in connection with
the Securities Act, upon exercise of any Option, unless a registration statement
under the Securities Act is in effect with respect to the shares of Stock
covered by such Option, the Corporation shall not be required to sell or issue
such shares unless the Corporation has received evidence satisfactory to the
Corporation that the Optionee may acquire such shares pursuant to an exemption
from registration under the Securities Act.  Any determination in this
connection by the Corporation shall be final and conclusive.  The Corporation
may, but shall in no event be obligated to, register any securities covered
hereby pursuant to the Securities Act.  The Corporation shall not be obligated
to take any affirmative action in order to cause the exercise of an Option or
the issuance of shares pursuant thereto to comply with any law or regulation of
any governmental authority.  As to any jurisdiction that expressly imposes the
requirement that an Option shall not be exercisable unless and until the shares
of Stock covered by such Option are registered or are subject to an available
exemption from registration, the exercise of such Option (under circumstances in
which the laws of such jurisdiction apply) shall be deemed conditioned upon the
effectiveness of such registration or the availability of such an exemption.

17.  EXCHANGE ACT: RULE 16b-3

     17.1.  General

          The Plan is intended to comply with Rule 16b-3 ("Rule 16b-3") (and any
successor thereto) under the Exchange Act.  Any provision inconsistent with Rule
16b-3 shall, to the extent permitted by law and determined to be advisable by
the Committee (constituted in accordance with Section 17.2 hereof), be
inoperative and void.

     17.2.  Compensation Committee

          The Committee appointed in accordance with Section 3.1 hereof shall
consist of not fewer than two members of the Board each of whom shall qualify
(at the time of appointment to the Committee and during all periods of service
on the Committee) in all respects as a "non-employee director" as defined in
Rule 16b-3.

                                       12
<PAGE>

     17.3.  Restriction on Transfer of Stock

          No director, officer or other "insider" of the Corporation subject to
Section 16 of the Exchange Act shall be permitted to sell Stock (which such
"insider" had received upon exercise of an Option) during the six months
immediately following the grant of such Option.

18.  AMENDMENT AND TERMINATION

          The Board may, at any time and from time to time, suspend or terminate
the Plan and make such changes in or additions to the Plan as it may deem
proper, provided that, if and to the extent provided by applicable law or
regulation, no such suspension or termination of, change in or addition to the
Plan shall be made unless such suspension or termination of, or change in or
addition to the Plan is authorized by the Company's stockholders.  Except as
permitted under Section 19 hereof, no suspension or termination of the Plan or
any change in or addition to the Plan shall, without the consent of any Optionee
who is adversely affected thereby, alter any Options previously granted to the
Optionee pursuant to the Plan.

19.  EFFECT OF CHANGES IN CAPITALIZATION

     19.1.  Changes in Stock

          If the number of outstanding shares of Stock is increased or decreased
or changed into or exchanged for a different number or kind of shares or other
securities of the Corporation by reason of any recapitalization,
reclassification, stock split-up, combination of shares, exchange of shares,
stock dividend or other distribution payable in capital stock, or other increase
or decrease in such shares effected without receipt of consideration by the
Corporation, occurring after the effective date of the Plan, a proportionate and
appropriate adjustment shall be made by the Corporation in the number and kind
of shares issuable under the Plan and for which Options are outstanding, so that
the proportionate interest of the Optionee immediately following such event
shall, to the extent practicable, be the same as immediately prior to such
event.  Any such adjustment in outstanding Options shall not change the
aggregate Option Price payable with respect to shares subject to the unexercised
portion of the Option outstanding but shall include a corresponding
proportionate adjustment in the Option Price per share. Notwithstanding the
foregoing, in the event of a spin-off that results in no change in the number of
outstanding shares of Stock of the Corporation, the Corporation may, in such
manner as the Corporation deems appropriate,  adjust (i) the number and kind of
shares of Stock subject to outstanding Options and/or  (ii) the exercise price
of outstanding Options.

                                       13
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     19.2.  Reorganization With Corporation Surviving

          Subject to Section 19.3 hereof, if the Corporation shall be the
surviving entity in any reorganization, merger or consolidation of the
Corporation with one or more other entities, any Option theretofore granted
pursuant to the Plan shall pertain to and apply to the securities to which a
holder of the number of shares of Stock subject to such Option would have been
entitled immediately following such reorganization, merger or consolidation,
with a corresponding proportionate adjustment of the Option Price per share so
that the aggregate Option Price thereafter shall be the same as the aggregate
Option Price of the shares remaining subject to the Option immediately prior to
such reorganization, merger or consolidation.

     19.3.  Other Reorganizations; Sale of Assets or Stock

          Upon the dissolution or liquidation of the Corporation, or upon a
merger, consolidation or reorganization of the Corporation with one or more
other entities in which the Corporation is not the surviving entity, or upon a
sale of substantially all of the assets of the Corporation to another person or
entity, or upon any transaction (including, without limitation, a merger or
reorganization in which the Corporation is the surviving entity) approved by the
Board that results in any person or entity (other than persons who are holders
of stock of the Corporation at the time the Plan is approved by the Stockholders
and other than an Affiliate) owning 80 percent or more of the combined voting
power of all classes of stock of the Corporation, the Plan and all Options
outstanding hereunder shall terminate, except to the extent provision is made in
connection with such transaction for the continuation of the Plan and/or the
assumption of the Options theretofore granted, or for the substitution for such
Options of new options covering the stock of a successor entity, or a parent or
subsidiary thereof, with appropriate adjustments as to the number and kinds of
shares and exercise prices, in which event the Plan and Options theretofore
granted shall continue in the manner and under the terms so provided.  In the
event of any such termination of the Plan, each Optionee shall have the right
(subject to the general limitations on exercise set forth in Section 11.3 hereof
and except as otherwise specifically provided in the Option Agreement relating
to such Option), immediately prior to the occurrence of such termination and
during such period occurring prior to such termination as the Committee in its
sole discretion shall designate, to exercise such Option in whole or in part,
whether or not such Option was otherwise exercisable at the time such
termination occurs, but subject to any additional provisions that the Committee
may, in its sole discretion, include in any Option Agreement.  The Committee
shall send written notice of an event that will result in such a termination to
all Optionees not later than the time at which the Corporation gives notice
thereof to its stockholders.

                                       14
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     19.4.     Adjustments

          Adjustments under this Section 19 relating to stock or securities of
the Corporation shall be made by the Committee, whose determination in that
respect shall be final and conclusive.  No fractional shares of Stock or units
of other securities shall be issued pursuant to any such adjustment, and any
fractions resulting from any such adjustment shall be eliminated in each case by
rounding downward to the nearest whole share or unit.

     19.5.  No Limitations on Corporation

          The grant of an Option pursuant to the Plan shall not affect or limit
in any way the right or power of the Corporation to make adjustments,
reclassifications, reorganizations or changes of its capital or business
structure or to merge, consolidate, dissolve or liquidate, or to sell or
transfer all or any part of its business or assets.

20.  WITHHOLDING

          The Corporation or a Subsidiary may be obligated to withhold federal
and local income taxes and Social Security taxes to the extent that an Optionee
realizes ordinary income in connection with the exercise of an Option.  The
Corporation or a Subsidiary may withhold amounts needed to cover such taxes from
payments otherwise due and owing to an Optionee, and upon demand the Optionee
will promptly pay to the Corporation or a Subsidiary having such obligation any
additional amounts as may be necessary to satisfy such withholding tax
obligation.  Such payment shall be made in cash or cash equivalents.

21.  DISCLAIMER OF RIGHTS

          No provision in the Plan or in any Option granted or Option Agreement
entered into pursuant to the Plan shall be construed to confer upon any
individual the right to remain in the employ of the Corporation, any Subsidiary
or any Affiliate, or to interfere in any way with the right and authority of the
Corporation, any Subsidiary or any Affiliate either to increase or decrease the
compensation of any individual at any time, or to terminate any employment or
other relationship between any individual and the Corporation, any Subsidiary or
any Affiliate.  The obligation of the Corporation to pay any benefits pursuant
to the Plan shall be interpreted as a contractual obligation to pay only those
amounts described herein, in the manner and under the conditions prescribed
herein.  The Plan shall in no way be interpreted to require the Corporation to
transfer any amounts to a third party trustee or otherwise hold any amounts in
trust or escrow for payment to any participant or beneficiary under the terms of
the Plan.

                                       15
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22.  NONEXCLUSIVITY

          Neither the adoption of the Plan nor the submission of the Plan to the
stockholders of the Corporation for approval shall be construed as creating any
limitations upon the right and authority of the Board to adopt such other
incentive compensation arrangements (which arrangements may be applicable either
generally to a class or classes of individuals or specifically to a particular
individual or individuals) as the Board in its discretion determines desirable,
including, without limitation, the granting of stock options otherwise than
under the Plan.

23.  Governing Law.

          This Plan and all Options to be granted hereunder shall be governed by
the laws of the State of Delaware (but not including the choice of law rules
thereof).

          IN WITNESS WHEREOF, the Company caused its duly authorized officer to
execute this Plan as of the 24th day of March, 1997 to evidence its adoption of
this Plan, and the Company has caused its duly authorized officer to execute
this Plan, amended and restated as of July 25, 2000.

                                           ITC/\DELTACOM, INC.

                                           By:  /s/ J. Thomas Mullis
                                                --------------------
                                                Senior Vice President

                                       16

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