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
Columbia Records Announces Jennifer Frommer As Head of Its Creative Agency
iHeartRadio Summer Pool Party Heats Up Miami
National Radio Hall of Fame Announces 2016 Nominees
Shelley Wade Named Afternoon Host at KMYI (Star 94.1)/San Diego
Spotify's Family Plan Gets An Upgrade
May 20, 2016
eQB NOW
May 19, 2016
Republic Records Promotes David "Davey Dee" Ingenloff to SVP/Rhythm Crossover Promotion
WLLD (WiLD 94.1)/Tampa Goes Nuts In PM Drive & Grabs A Franchize At Night
Mike Mathewson Named VP/Marketing For Columbia Records
Universal Music Forms Verve Label Group, Appoints Danny Bennett as President/CEO
Entravision Promotes Don Daboub To EVP/Integrated Marketing Solutions
May 18, 2016
Rare On-Air Opening At Power 106 Los Angeles
Ross Mahoney Named PD/PM Drive Host At KXTE/Las Vegas
Erika Alfredson Named VP/Marketing For Columbia Records
May 17, 2016
SBS Reports First Quarter Results
Westwood One Backstage At the BBMAs To Feature Exclusive Content And Pop Trio Bahari
In Brief - May 17, 2016
May 16, 2016
Gary Marella Named EVP/Mosley Music Group
SiriusXM Canada Going Private in $367 Million Deal
Radio Button Network Names Adam Goodman As First CEO
iHeartMedia's Chase Murphy Releases #Tryharder
3rd Annual GAB Radio Talent Institute Is In Session
In Brief - May 16, 2016
May 13, 2016
RCA Records Promotes Wendy Goodman To SVP/Promotion
Music News
The Weeknd Tops Billboard Music Award Winners
Drake Stays at #1, Meghan Trainor Debuts at #3 on Billboard 200
Quick Hits: Red Hot Chili Peppers, Megadeth, Ramones
Drake Leads Nominees For 2016 BET Awards
Quick Hits: Adele, Fifth Harmony, Life is Beautiful festival, Beastie Boys
Quick Hits: Chevelle, Rage Against The Machine / Prophets of Rage, 3 Doors Down, Make America Rock Again tour
Ariana Grande, Calvin Harris & More Headlining Billboard Hot 100 Festival
Quick Hits: MuchMusic Awards, Guns N' Roses / Lenny Kravitz / Alice in Chains, Rage Against The Machine, Riot Fest
Puff Daddy Takes Bad Boy Reunion on the Road
Quick Hits: Justin Timberlake, Houston Open Air, The Temper Trap, High Elevation Rock Festival, Pilgrimage Music & Cultural Festival, Lou Reed
Drake Stays Atop Billboard 200, Radiohead Debut at #3
Quick Hits: Adele, Red Hot Chili Peppers, Sia, Oasis
Ozzfest and Knotfest Combine Forces
Quick Hits: Rihanna & Meghan Trainor, U2, Chance the Rapper, Chevelle, Marilyn Manson
Ariana Grande to Perform New Music at Billboard Awards
FMQB NOW

John Mayer
PD, WFLZ/Tampa

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!