For the station division, local topline revenues dropped 4% and national slipped 22%. For context, Radio One says "the markets in which we operate radio stations were down approximately 3.8% for the quarter." But the stations are just part of the Washington area-based company these days. At the Reach Media syndication unit that handles Tom Joyner, revenue improved 13% over last year, when Reach had recently taken its full sales effort in-house. The Internet business topline revenue swelled 30%. At the TV One unit, they've brought the former Comcast interest onto the books and the consolidated revenues swelled 37%. Earlier this week, Wells Fargo analyst Marci Ryvicker suggested that investors realize fourth quarter wasn't anything special, and they may be more interested in the first part of 2012. This year, Radio One's core radio revenue is pacing up 6%, Reach Media is "broadly flat" and TV One is up mid-single digits. Radio One says "We are expecting a strong consolidated first-half performance" and believes it should stay in compliance with its financial covenants "for the foreseeable future." Radio One reports its full set of fourth-quarter and full-year 2011 numbers on March 15.