QUOTE AND NEWS
FX Street  Feb 24  Comment 
WE WON! - As you all know, JKonFX was nominated in two categories at this year’s FXStreet Forex... For more information, read our latest forex news and reports.
Forbes  Sep 4  Comment 
Paul Caine If last week's news that Cumulus Media will buy Dial Global for $260 million didn't cause more of a splash, perhaps it was because Dial Global is better known by its programming than its name. The syndicator's content stable includes...
Clusterstock  Nov 7  Comment 
The networks called the 2012 election for President Barack Obama Tuesday night, soon after projecting that the incumbent would win Ohio, a key battleground state that Mitt Romney needed to win to stay in the running.  The race is still too...
Clusterstock  Oct 12  Comment 
t's official! The EU has won the Nobel Peace Prize. As noted below, the news was broken about an hour ago by Norwegian state broadcaster NRK.no about an hour before the announcement. Now it's been confirmed. Here's the full press...
Sydney Morning Herald  Aug 9  Comment 
I WON second division lotto last month. Or at least I assumed I did, not that I will ever know, because I have no plans to check my ticket. Just like I have no plans to check any ticket I have purchased over the past two years.
Forbes  Aug 26  Comment 
Radio remains a paramount purveyor of news and information, and its influence remains undiminished despite the surge of online media outlets and diverse Internet services.
New York Times  Aug 1  Comment 
The stock-for-stock deal will combine Westwood One, which is owned by the Gores Group, and Dial Global, a portfolio company of Oaktree Capital Management.
Sydney Morning Herald  Apr 22  Comment 
HE WON in his first attempt as a wildcard a decade ago, but Mick Fanning has no doubt winning the Bells Beach Rip Curl Pro on the 50th anniversary of the event would forever hold special meaning.
StreetInsider.com  Sep 7  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Management+Changes/Westwood+One+%28WWON%29+Announces+Resignation+of+Gary+Schonfeld/5949910.html for the full story.
StreetInsider.com  Aug 19  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Westwood+One+%28WWON%29+Reports+a+Q2+Loss/5912531.html for the full story.





 
TOP CONTRIBUTORS

Westwood One operates two businesses, both terrestrial radio based. The traffic division provides customized news and traffic reports, and earns revenues on the short, announcer-read ad spots embedded during these reports. The network division provides longer events such as sports which are then sent to member stations around the country.

Business and Financials

Revenues have been falling for the last 4 years, at nearly double digit rates. The ad businesses is brutally competitive, and Westwood faces stiff competition not only from other terrestrial radio operators like Clear Channel, but also from new media such as satellite radio and the internet. Terrestrial radio's decline as an entertainment medium has also sent ad prices falling.

They also have a huge debt load. At 330 million, this is almost 3 times the company's market cap! Coverage ratio is barely 3x earnings. There is very little wiggle room if revenues continue to decline, which is unfortunately the most likely scenario.




References

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