Westwood One already has written approval from its majority shareholder, The Gores Group, for its proposed merger with Dial-Global, so no formal shareholders meeting and vote is required. However, the company is holding a conference call for shareholders now that it has filed the formal documents with the SEC.
As previously detailed, Dial-Global, which is controlled by Oaktree Capital, will wind up owning 59% of the merged company, although it will continue to operate under Westwood’s structure as a company with public stock.
The call to discuss the merger will be Thursday (9/8) at 8:30 am. Dial-in information is posted on the Westwood One website. Or simply check back at RBR.com for the highlights.