RBR/TVBR hears that it was just a legal technicality, not any shareholder battle over the financial reorganization terms, that led to Friday’s surprise adjournment of the Westwood One special shareholders meeting. Look for the lawyers to draw up a fix and file a revised proxy for the vote to take place. Then the company will be able to do its reverse split, have the stock trade out of penny stock territory for a while and then move forward with the $50 million stock sale.
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