Exhibit 12.1 Regent Communications, Inc. Computation of Ratio of Earnings to Fixed Charges (Dollars in thousands) Year Ended December 31, ---------------------------------------------------------------------------------------- 1997 1998 1999 2000 2001 -------------- ---------------- --------------- --------------- -------------- EARNINGS: Income (loss) before income taxes and extraordinary items $ (291) $ (3,290) $ (6,300) $ 14,966 $ (2,378) Fixed charges 1,350 3,050 5,447 4,496 3,694 -------------- ---------------- --------------- --------------- -------------- Total $ 1,059 $ (240) $ (853) $ 19,462 $ 1,316 ============== ================ =============== =============== ============== FIXED CHARGES: Interest expense and amortization of debt expense $ 1,331 $ 2,883 $ 5,249 $ 4,229 $ 3,279 Portion of rent expense deemed to be interest 19 167 198 267 415 -------------- ---------------- --------------- --------------- -------------- Total $ 1,350 $ 3,050 $ 5,447 $ 4,496 $ 3,694 ============== ================ =============== =============== ============== Ratio of earnings to fixed charges -- -- -- 4.33 -- ============== ================ =============== =============== ============== Coverage deficiency $ 291 $ 3,290 $ 6,300 $ -- $ 2,378 ============== ================ =============== =============== ============== Regent Communications, Inc. Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends (Dollars in thousands) Year Ended December 31, ------------------------------------------------------- 1997 1998 1999 2000 2001 -------- -------- -------- -------- -------- EARNINGS: Income (loss) before income taxes and extraordinary items $ (291) $ (3,290) $ (6,300) $ 14,966 $ (2,378) Fixed charges 1,350 3,050 5,447 4,496 3,694 -------- -------- -------- -------- -------- Total $ 1,059 $ (240) $ (853) $ 19,462 $ 1,316 ======== ======== ======== ======== ======== FIXED CHARGES: Interest expense and amortization of debt expense $ 1,331 $ 2,883 $ 5,249 $ 4,229 $ 3,279 Portion of rent expense deemed to be interest 19 167 198 267 415 -------- -------- -------- -------- -------- Total $ 1,350 $ 3,050 $ 5,447 $ 4,496 $ 3,694 ======== ======== ======== ======== ======== Preferred dividend requirements $ 0 $ 6,953 $ 22,426 $ 27,240 $ 0 Total fixed charges 1,350 3,050 5,447 4,496 3,694 -------- -------- -------- -------- -------- Total fixed charges and preferred dividends $ 1,350 $ 10,003 $ 27,873 $ 31,736 $ 3,694 ======== ======== ======== ======== ======== Ratio of earnings to combined fixed charges and preferred dividends -- -- -- -- -- ======== ======== ======== ======== ======== Coverage deficiency $ 291 $ 10,243 $ 28,726 $ 12,274 $ 2,378 ======== ======== ======== ======== ========