Westwood One will still supply programming for CBS radio...the new deal sets that programming until 2017. However, the new financing for Westwood One gives the company more independent control of their day to day operations. Here's the press release issued this afternoon.
New York, NY – March 3, 2008 – Westwood One, Inc. (NYSE: WON) (the “Company” or “Westwood”) announced today that it and CBS Radio, Inc. (“CBS Radio”) closed the transactions c...