You will be redirected back to your article in seconds

Financial Briefs

Westwood One Inc. sold the assets of its Los Angeles radio station KQLZ-FM for $ 40 million in cash plus working capital to a Viacom Inc. unit. The company said the proceeds of the sale were used to reduce its 16% senior subordinated debentures from $ 43.7 million to $ 12.7 million.

Westwood One expects to complete the sale of WYNY-FM, New York, to Broadcasting Partners Inc. for $ 50 million by the end of this month.

MGM Grand Inc. filed for a common stock offering with the Securities & Exchange Commission. The filing did not specify the exact number of common shares to be offered by the company; however, 1.58 million shares were registered. Proceeds from the offering will be used for general purposes, including expansions, the development of theatrical productions at the showroom of the MGM Grand Hotel, the development of a monorail or the development of property near the MGM Grand Hotel and Theme Park. Bear Stearns & Co. Inc. is underwriting.

More Biz

  • David Glasser Fired by the Weinstein

    Weinstein Co. Board Fires COO David Glasser for Cause

    Westwood One Inc. sold the assets of its Los Angeles radio station KQLZ-FM for $ 40 million in cash plus working capital to a Viacom Inc. unit. The company said the proceeds of the sale were used to reduce its 16% senior subordinated debentures from $ 43.7 million to $ 12.7 million. Westwood One expects […]

  • Oh Seok-geun Korean Film Council

    New Leader Promises Reforms at Korean Film Council

    Westwood One Inc. sold the assets of its Los Angeles radio station KQLZ-FM for $ 40 million in cash plus working capital to a Viacom Inc. unit. The company said the proceeds of the sale were used to reduce its 16% senior subordinated debentures from $ 43.7 million to $ 12.7 million. Westwood One expects […]

  • SOUTH KOREA OUTMandatory Credit: Photo by

    Actress Choi Hee-seo Looks Forward to a Promising Career

    Westwood One Inc. sold the assets of its Los Angeles radio station KQLZ-FM for $ 40 million in cash plus working capital to a Viacom Inc. unit. The company said the proceeds of the sale were used to reduce its 16% senior subordinated debentures from $ 43.7 million to $ 12.7 million. Westwood One expects […]

  • The Prison Korean Cinema

    Korea's Box Office Faces a Drop in Admissions as Streaming Services Compete

    Westwood One Inc. sold the assets of its Los Angeles radio station KQLZ-FM for $ 40 million in cash plus working capital to a Viacom Inc. unit. The company said the proceeds of the sale were used to reduce its 16% senior subordinated debentures from $ 43.7 million to $ 12.7 million. Westwood One expects […]

  • Andy Lo Hong Kong Writer Director

    Ambitious Filmmaker Andy Lo Wants Success in Both Hong Kong and China

    Westwood One Inc. sold the assets of its Los Angeles radio station KQLZ-FM for $ 40 million in cash plus working capital to a Viacom Inc. unit. The company said the proceeds of the sale were used to reduce its 16% senior subordinated debentures from $ 43.7 million to $ 12.7 million. Westwood One expects […]

  • Tomorrow Is Another Day Hong Kong

    Hong Kong Films Face Challenges in Mainland China

    Westwood One Inc. sold the assets of its Los Angeles radio station KQLZ-FM for $ 40 million in cash plus working capital to a Viacom Inc. unit. The company said the proceeds of the sale were used to reduce its 16% senior subordinated debentures from $ 43.7 million to $ 12.7 million. Westwood One expects […]

More From Our Brands

Access exclusive content