Cathy Hughes
Founder/Urban One
Before Cathy Hughes was able to buy her first radio station in 1980, it took her several years to secure a license and approval from the FCC. Once she got approval, she needed a million-dollar loan—and the bank charged her 28 percent interest. Seven challenging years later, her balance sheet turned black. “I called my accountant and accused him of making an error,” Hughes recalls. “He laughed and said, ‘No, that means you made money this month.’”
Urban One is
