New York - Aug 1, 2011 - Dial Global, a division of Triton Media Group, and Westwood One have reached an agreement to merge in a stock-for-stock transaction. Like Westwood One, the new company entity will remain listed on NASDAQ. The transaction is expected to close in the fourth quarter 2011, subject to customary closing conditions and expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
Triton Media Group will focus exclusively on operating its remaining division, Triton Digital.
Triton Media Group is a portfolio company of funds managed by Oaktree Capital Management. Westwood One is a portfolio company of The Gores Group.