WTAG leaves CBS for Fox

Garrett Wollman wollman@csail.mit.edu
Tue Feb 13 16:18:45 EST 2007

<<On Tue, 13 Feb 2007 15:20:55 -0500, "A. Joseph Ross" <Joe@attorneyross.com> said:

> I thought the NBC radio network was discontinued a few years ago.  In 
> its last days, it had been bought by Westwood One, which was bought 
> by CBS or by something that was bought by CBS, and NBC radio news, 
> along with Mutual news, was originating from the CBS newsroom.

To quote from Westwood One's most recent SEC 10-K filing:

> Westwood One is managed by CBS Radio Inc. (CBS Radio; previously
> known as Infinity Broadcasting Corporation (Infinity)), a
> wholly-owned subsidiary of CBS Corporation, pursuant to a management
> agreement between the Company and CBS Radio (then Infinity) which
> expires on March 31, 2009 (the Management Agreement).

> In addition to the Management Agreement described above, the Company
> also enters into other transactions with CBS Radio and affiliates of
> CBS Radio, including Viacom, in the normal course of business. Such
> arrangements include a representation agreement (including a related
> news programming agreement, a license agreement and a technical
> services agreement with an affiliate of CBS Radio collectively
> referred to in this report as the Representation Agreement) to
> operate the CBS Radio Networks, affiliation agreements with many of
> CBS Radios radio stations and the purchase of programming rights
> from CBS Radio and affiliates of CBS Radio.

This is all described in eye-glazing detail on Westwood One's 2002
proxy statement

Westwood One founder Norm Pattiz controls about 25% of the voting
interest in the company and is its chairman.  CBS seems to have about
15% and employs Westwood's CEO and CFO.


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