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Westwood One, Inc. to Acquire SmartRoute Systems, Inc
And the big get bigger....
CAMBRIDGE, Mass.--(BUSINESS WIRE)--June 13, 2000--Westwood One, Inc.
(NYSE: WON) and affiliates of Sandler Capital Management today announced a
definitive agreement by which Westwood One will acquire the operating assets
of SmartRoute Systems.
The acquisition will allow Westwood One to utilize the technology
developed by SmartRoute to expand its delivery of local traffic and other
related content via new and emerging technologies, as well as to enhance the
services currently provided by SmartRoute to various government agencies.
SmartRoute's technology, combined with Westwood One's traffic content
available through its Metro Networks/Shadow Broadcast Services subsidiaries,
will enable Westwood One to provide its content to new media outlets
including the Internet, wireless and in-vehicle markets. The completion of
the transaction is subject to certain closing conditions, including the
expiration of the Hart-Scott-Rodino waiting period.