WASHINGTON (Bloomberg) Radio One Inc., the biggest radio broadcaster focused on urban audiences, delayed its annual report and may restate earnings going back to 1999 to account for misdated stock-option grants.The changes for years 1999 through 2003 will be material, Lanham, Maryland-based Radio One said yesterday in a regulatory filing. The company doesn’t expect to alter stock-based compensation costs for 2006 and said added costs for 2004 and 2005 won’t be material.

The restatement won’t affect the company’s previously reported revenue, cash flow or total stockholders’ equity, the company said in a statement. Chief financial officer Scott Royster didn’t immediately return a message seeking comment.