<PAGE>
Exhibit 12.1
Radio One, Inc. and Subsidiaries
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends For
the Years Ended December 31, 1995, 1996, 1997, 1998, 1999 and For the
Six Months Ended June 30, 1999 and 2000
<TABLE>
<CAPTION>
Fiscal Year Ended December 31,
--------------------------------------------------------
Pro forma
1995 1996 1997 1998 1999 1999
------- ------- ------- -------- ------- -----------
(Dollars in thousands) (unaudited)
<S> <C> <C> <C> <C> <C> <C>
Earnings:
Net Income (loss)....... $(1,856) $(3,609) $(4,944) $ 841 $ 133 $(83,086)
Add:
Provision (benefit) for
income taxes.......... -- -- -- (1,575) 2,728 --
Extraordinary item..... 468 -- 1,985 -- -- --
Fixed charges:(1)
Interest expense,
including
amortization of
deferred financing
costs................ 5,289 7,252 8,910 11,455 15,279 58,452
Rent expense.......... 190 259 270 296 497 890
------- ------- ------- -------- ------- --------
Total fixed charges..... 5,479 7,511 9,180 11,751 15,776 59,342
Total earnings.......... $ 4,091 $ 3,902 $ 6,221 $ 11,017 $18,637 $(23,744)
======= ======= ======= ======== ======= ========
Fixed Charges (1)....... $ 5,479 $ 7,511 $ 9,180 $ 11,751 $15,776 $ 59,342
======= ======= ======= ======== ======= ========
Preferred stock
dividends.............. $ -- $ -- $ 2,037 $ 3,716 $ 1,476 $ 21,626
======= ======= ======= ======== ======= ========
Ratio of earnings to
combined fixed charges
and preferred stock
dividends.............. 0.75 0.52 0.55 0.71 1.08 (0.29)
======= ======= ======= ======== ======= ========
</TABLE>
<TABLE>
<CAPTION>
Six Months Ended
June 30,
-------------------------
Pro
(Unaudited) forma
1999 2000 2000
------- ------- --------
(Dollars in Thousands)
<S> <C> <C> <C>
Earnings:
Net Income (loss).................................. $(3,681) $ 7,638 (37,435)
Add:
Provision (benefit) for income taxes.............. 476 5,818 --
Extraordinary item................................ -- --
Fixed charges:(1)
Interest expense, including amortization of
deferred financing costs........................ 7,489 7,247 30,779
Rent expense..................................... 249 261 446
------- ------- --------
Total fixed charges................................ 7,738 7,508 31,225
Total earnings..................................... $ 4,533 $20,964 $ (6,210)
======= ======= ========
Fixed Charges (1).................................. $ 7,738 $ 7,508 $ 31,225
======= ======= ========
Preferred stock dividends.......................... $ 1,476 $ -- 10,075
======= ======= ========
Ratio of earnings to combined fixed charges and
preferred stock dividends......................... 0.49 2.79 (0.15)
======= ======= ========
</TABLE>
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(1) Fixed charges represent interest expense, including amortization of
deferred financing costs and the component of rent expense believed by
management to be representative of the interest factor (one-third of rent
expense).
