TransMedia Group Corrects Misstatements Made in April 9, 2008 Press Release That...

TransMedia Group Corrects Misstatements Made in April 9, 2008 Press Release
That it Issued on Behalf of Pompano Helicopters

BOCO RATON, Fla., Oct. 23 /PRNewswire/ -- TransMedia Group issues this
press release for the purpose of correcting certain inadvertent misstatements
that it made in a prior release dated April 9, 2008, issued on behalf of
Pompano Helicopters, Inc.
The April 9 release purported to summarize a decision issued by United
States District Judge William Zloch on a motion to dismiss a Complaint filed
against Westwood One, Inc. (NYSE: WON) by Pompano Helicopters. Judge Zloch's
decision found that three of the Complaint's seven counts were barred by the
statute of limitations, and invited a renewed motion to dispose of the
remaining four counts after a factual record was developed in discovery that
would allow a statute-of-limitations analysis for those claims as well.
The April 9 release incorrectly stated that Judge Zloch had found
"sufficient cause" for the case to "proceed to trial." As a decision on a
motion to dismiss, Judge Zloch's decision was limited to assessing whether the
Complaint stated a claim for relief, assuming its allegations to be true, such
that the case could proceed into the discovery phase of litigation. The
decision did not represent a finding of sufficient cause for trial.
The April 9 release incorrectly stated that Pompano sought damages of
"over $400 million, which would exceed Westwood's current market
capitalization." Nothing in the Complaint suggest damages approaching this
magnitude. In fact, the Complaint alleges that Pompano Helicopter's entire
business was worth only $6 million, and Judge Zloch dismissed the claim
pursuant to which Pompano Helicopters sought such damages.
TransMedia Group apologies for the confusion and misunderstanding that the
April 9 release may have caused, and notes that the April 9 release had been
reviewed and approved by Pompano Helicopters' representatives.
CONTACT:
Glen Calder
TransMedia Group
(561) 750-9800, x 216
gcalder@transmediagroup.com

SOURCE TransMedia Group

Glen Calder of TransMedia Group, +1-561-750-9800, x 216,
gcalder@transmediagroup.com