Westwood gets 60-day extension?


Westwood One may be breathing a sigh of relief as we have heard, but not confirmed, that note holders and lenders including majors Bank of America and JP Morgan have given Westwood One a 60-day extension on debt obligations that come due on 2/28. The next debt obligation is 11/30/09. If this is true, Westwood has 48 business day hours to file the notification to the SEC—at the latest on Tuesday. Phone calls and emails to Westwood One were not returned by deadline.