The true beneficiaries of the sale of WestwoodOne (formerly Dial Global) to radio group Cumulus will be investment banks and hedge funds, says a consumer watchdog called, aptly enough, Consumer Watchdog. It says all listeners will get is less competition for their ears and more homogenized content.
CW believes that the deal will effectively create a two-mega-group duopoly between Cumulus and Clear Channel that will result in overly-concentrated ownership, particularly in the top 100 radio markets.
