Westwood One shareholders on Tuesday approved a transaction to have The Gores Group invest $100 million in the company. The first $25 million investment had already been made and, with the go ahead from shareholders, the remaining $75 million changed hands yesterday. “This financing is key to unlocking the future of Westwood One,” declared President and CEO Thomas Beusse. The board of WW1 has now been expanded to 11 members and three representatives of The Gores Group have joined the board.
