Done Deal: Dial Global Completes Westwood One Merger
October 21, 2011 at 11:30 AM (PT)
DIAL GLOBAL has successfully completed its merger with WESTWOOD ONE in a stock-for-stock transaction following receipt of all necessary regulatory and shareholder approvals. Effective MONDAY, OCTOBER 24th, the company will be listed on the NASDAQ under the symbol "DIAL."
The merger creates a diverse radio programming, services and advertising sales company providing more than 200 radio programs and services to over 7,000 stations. "The combined platform provides a broader and more diverse range of programming and services to radio stations and advertisers than has ever been offered," said SPENCER BROWN, DAVID LANDAU and KEN WILLIAMS, managing partners of DIAL GLOBAL. "DIAL GLOBAL remains committed to maintaining the high level of service and accountability that our customers have come to expect."
"DIAL GLOBAL has always been focused on serving the ever-evolving needs of the radio industry, and this transaction will expand the programming and service offerings sought by both radio stations and advertisers," DIAL GLOBAL Board of Directors Chairman NEAL SCHORE added. "On behalf of the board, I want to thank ROD SHERWOOD and the entire WESTWOOD ONE team, whose tremendous efforts have helped make this transaction possible."