Westwood One execs put their cash on the line


Westwood One has gotten a second notice of potential delisting from the NYSE, adding failure to maintain a minimum market capitalization of $75 million to the previous notice for having its stock price fall below a buck. The company still has several months to cure the deficiencies and says it intends to return to compliance, although “there can be no assurance that it will be able to do so.” But to demonstrate their confidence in the company, WW1’s three top executives dipped into their own pockets late last week to buy 1,875,000 shares of stock at $0.40 per share. President and CEO Tom Beusse bought 375,000 shares, COO Steve Kalin 250,000 and CFO Rod Sherwood 1,250,000.