Global Traffic Network sells stock


Having sold its IPO in 2006 at five bucks per share, Global Traffic Network has now priced an offering of 4.5 million additional shares at 6.25 each. Although corporate HQ is in New York, Global provides radio and television traffic reports on a barter basis only outside the US. It currently operates in Australia and Canada and is preparing to launch in Europe. Westwood One is a major shareholder and handles ad sales for Global in the US. Former WW1 CEO Shane Coppola is a member of the Global board of directors.