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
Afternoons With Adam Bomb Debuts on Q100/Atlanta
Beasley Media Group Names Randy Bliss OM For Fayetteville Market
Beasley Media Group Expands Responsibilities For Urban PD Tap Money
Nadine Santos Promoted To Director/Programming & Artist Relations At Music Choice
UMG And Alex Da Kid Sign Multi-Faceted Agreement
Debra Green Takes Over Nights On WSRV/The River
January 18, 2017
Gregg Nadel Named President of Elektra Records
CBS Radio Rebrands KVIL And AMPs Up The Dallas-Fort Worth Market
KDND/Sacramento Is Looking For Next Night Superstar
January 17, 2017
Angi Taylor Joins The Rendezvous
Randy Savage Joins Cumulus As OM Wilkes Barre/Scranton, PA Cluster
Hubbard Radio Chicago Signs Eric & Kathy To Multi-Year Agreement
Jill Devine Signs Multi-Year Renewal At KYKY/St. Louis
January 13, 2017
Pandora Expects To Exceed Q4 2016 Guidance, Citing Subscription Momentum and RPM Growth
SiriusXM Launches "Hits 1 in Hollywood"
In Brief - January 13, 2017
January 12, 2017
Beasley Names Debbie Mazella Program Director Of Magic 98.3/New Jersey
The Dave & Mahoney Morning Show Returns To KXTE (X107.5)/Las Vegas
January 11, 2017
Cumulus Promotes Matt Raback To VP/Market Manager For York-Lancaster-Reading, PA
Crystal Castorena Named GM For Impact Radio Group
Justin Luvv Named Afternoon On-Air Personality/Imaging Director For WRWM/Indianapolis
January 10, 2017
Ron Parker Named New Afternoon Host At WLS-FM/Chicago
KLOS/Los Angeles Kicks Off 2017 With New Programming Additions
Mark Kassof & Co. Launches Mobile Music Test
Music News
Justin Timberlake, Britney Spears Among People's Choice Award Winners
Quick Hits: Grammy Lineup, Audioslave, Third Eye Blind
Maroon 5 Scores Their Ninth #1 Top 40 Hit
Quick Hits: Lollapalooza Paris, Metallica, Brit Awards, U2, Radiohead, George Harrison, Dave Matthews & Tim Reynolds
Quick Hits: Ed Sheeran, Ariana Grande, John Legend, Fifty Shades Darker, Trent Reznor
U2, Chili Peppers, The Weeknd & Chance the Rapper Headlining Bonnaroo
Quick Hits: Ed Sheeran, Prince
Quick Hits: Rocklahoma, Prince's Estate, Big Sean, Shaky Knees Music Festival, Spoon
U2 Announce Joshua Tree Anniversary Tour
Quick Hits: Panorama Festival, Green Day, Billboard 200, A Perfect Circle
Ed Sheeran Releases Two New Singles
Tool, Chance the Rapper & Phoenix Headlining Governors Ball
Beyoncé, Radiohead & Kendrick Lamar Headlining Coachella 2017
Quick Hits: BottleRock Napa Valley Festival, The Chainsmokers, Ed Sheeran
Pop Star George Michael Dead at 53
FMQB NOW

 

Question Of
The Week

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!