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.