Dial Global, CBS Amend Distribution Deal
April 2, 2013 at 4:43 AM (PT)
DIAL GLOBAL's annual report filed with the FCC on MONDAY (4/1) disclosed that the deal by which the company distributes CBS radio brands was amended on MARCH 8th, with DIAL GLOBAL giving back commercial inventory on some stations to CBS in exchange for a reduction in the compensation and fees owed by DIAL GLOBAL to CBS.
The deal, effective APRIL 16th, also gives some CBS stations right of first refusal to certain DIAL GLOBAL programming.
CBS and DIAL GLOBAL's master agreement runs through MARCH 31st, and the amendments are contingent on DIAL GLOBAL's recapitalization being consummated.