Dial Global Reports Q3 Loss, Volunarily De-Lists From NASDAQ
November 16, 2012

Dial Global has released its third quarter fiscal results, while also announcing the company will voluntarily de-list itself from the NASDAQ stock exchange. Following its acquisition of Westwood One, revenue grew from over $25 million in Q3 2011 to $58.2 million in this year's third quarter. However, the company reported in its 10-Q filing that it took a $69.4 million operating loss, as operating costs soared to $88 million from just $12.75 million a year earlier. Total net loss expanded from $5.2 million in Q3 of last year to $71.1 million.

In the 10-Q filing, Dial Global notes, "We believe our 2012 results were adversely impacted by, among other things, late cancelations in ad buys (which we believe was a by-product of the election and renewed economic uncertainty), competitive factors, such as a greater diversity of digital ad platforms (into which ad budgets have flowed) and increased competition from our major competitors, and advertisers' response to controversial statements by a certain nationally syndicated talk radio personality in March 2012." That would most likely be a reference to Rush Limbaugh, who faced boycotts and backlash earlier this year.

Additionally, Dial Global released a statement announcing that it had notified NASDAQ that it will voluntarily de-list itself from the global market. In its statement, the company says, "The decision to voluntarily delist from NASDAQ was taken following a review by the Company's Board of Directors, which determined that a delisting would be in the best interests of the Company. In reaching this conclusion, the Company's Board of Directors considered numerous factors, including, among other things, the compliance costs and obligations that result from the maintenance of the Company's listing on NASDAQ, the relatively limited historical volume of trading in the Company's common stock, the applicable federal securities laws and the applicable NASDAQ rules."

Dial Global will file a form with the SEC later this month to commence the delisting process. It is expected that the delisting will take effect on or about December 6. Following delisting, the Company's common stock will no longer trade on NASDAQ under the symbol "DIAL."




 
Breaking News
Clear Channel's iHeartRadio Partners With AdsWizz
Nielsen, Pointlogic Forge Strategic Alliance To Develop Next-Gen Media Planning Solutions
Pandora Hires Lars Murray As VP Of Industry Relations
In Brief - July 22, 2014
July 21, 2014
Evolve Music Group Signs Worldwide Agreement With Capitol Music Group
Second Annual KBA WKU Radio Talent Institute Underway
2014 Conclave Learning Conference Dates Announced
In Brief - July 21, 2014
FMQB FYI... Links You Should Know About
July 18, 2014
Hubbard Radio Elevates Drew Horowitz To President/COO
The Week In Review: 7/14-7/18
CCM+E Names Jeff Davis OM For Greenville & Asheville Markets
Tony Cortez Upped to APD At KTFM/San Antonio
In Brief - July 18, 2014
July 17, 2014
Report: Driving Radio's Value With U.S. Auto Buyers
In Brief - July 17, 2014
July 16, 2014
Study: Coleman Insights And knowDigital Find Opportunity For NextRadio
In Brief - July 16, 2014
July 15, 2014
CCM+E Austin Names Jonathan "JR" Reed Program Director For KHFI & KPEZ
Westwood One Partners With Radio Industry To Support NextRadio Funding
Triton Digital Releases May Top 20 Rankers
Nashville's Own Meghan Trainor Hears "Bass" For The First Time On 107.5 The River
In Brief - July 15, 2014
July 14, 2014
Rob Morris Named VP/Programming, CBS Radio Tampa Bay
Music News
Weezer Goes "Back To The Shack"
Quick Hits: Avicii, iTunes Festival, Adam Levine, The Script, Demi Lovato, Johnny Marr
Upcoming Maroon 5 Album Features Gwen Stefani Duet
The Week In Review: 7/14-7/18
Quick Hits: Beyonce, Teen Choice Awards, Aaliyah, The Roots
Beyoncé Leads 2014 MTV Video Music Awards
Quick Hits: Bruno Mars, Kanye West & Iggy Azalea, Busta Rhymes, The Smashing Pumpkins, Pearl Jam, Johnny Winter
Sia's 1000 Forms Of Fear Is #1
Quick Hits: The Beatles, Tool, Jason Mraz, David Bowie
Train Announces Bulletproof Picasso
Quick Hits: Drake, Blink-182, Pharrell Williams, Gwen Stefani & Gavin Rossdale, Gerard Way, Cold War Kids, Alex & Sierra, Polaris Music Prize
Tommy Ramone Dead At Age 65
Quick Hits: Justin Timberlake, Metallica, Radiohead, Halestorm, Kiss, Interpol
Dave Grohl Talks Sonic Highways At HBO Event
The Week In Review: 7/7-7/11
FMQB NOW

Chase Murphy, PD
KXXM, KQXT/San Antonio

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!