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Wednesday, September 7, 2011

"DIAL" will be the stock symbol for the merged Westwood plus Dial Global

Westwood One From today's TRI Newsletter: The companies expect their deal to close in the fourth quarter, and yesterday’s SEC filing sheds light on some interesting corners of the pact announced on July 30. This is Oaktree Capital-backed Dial Global merging with and recapitalizing Westwood One, the Network half of Westwood. Controlling Westwood partner The Gores Group sold the other half, Metro Networks, to Clear Channel in a deal that closed on April 29 but later drew attention from the DOJ. In the Dial Global deal, the merged company would keep its NASDAQ listing, but change symbols for its Class A stock from “WWON” to “DIAL.” When the merger is done, Verge shareholders will have about 59% of the company’s common stock.

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