Dial Global Suspends SEC Reporting
February 15, 2013 at 1:41 PM (PT)
DIAL GLOBAL, INC. has suspended its reporting obligations under the Securities Exchange Act of 1934; the Company intends to file a Form 15 with the SEC to accomplish the suspension today, so the Company won't have to make additional periodic reports with the SEC other than its annual report on Form 10-K with respect to its 2012 fiscal year.
The Company's Board of Directors determined that such action would be in the best interests of the Company, after considering factors such as compliance costs associated with filing periodic reports with the SEC, the diversion of management attention, the relatively limited historical volume of trading in the Company’s common stock and the applicable federal securities laws.
Although DIAL GLOBAL anticipates that its common stock will continue to be quoted on OTC Pink, "there can be no assurance, however, that a trading market in the Company’s common stock through the over-the-counter market or any other market will be maintained."