TRN Companies and Cumulus Media have
agreed to settle outstanding claims arising during previous ownership
of Westwood One.
The Talk Radio Network has sued Dial
Dial Global over unpaid ad revenues and unfair competition before the
company was acquired by Cumulus. The name was subsequently changes
back to Westwood One.
The settlement’s terms were
undisclosed.
In a statemeent, Lew Dickey, President
and CEO of Cumulus Media, said: “While Cumulus Media had no role in
the lawsuits filed by TRN Companies, we are pleased to resolve these
claims and move forward together. We remain supportive of each other
and are optimistic for the future.”
Mark Masters, CEO of TRN Companies,
said: “We are pleased to ‘turn the page’ with the new owners of
Westwood One and have put past issues behind us. As we build bridges
together, we look forward to a mutually beneficial future working
with our affiliated stations, customers, Lew and John Dickey and
Cumulus Media.”
TRN's 2012 Federal suit was against
Dial Global and multiple other parties, asserting antitrust,
anti-monopoly and other claims.
Mark Masters blamed TRN’s recent
financial problems on Dial Global.
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