Westwood One, Inc. Announces Plans to Reconvene Special Meeting of Stockholders

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Fri Jun 26, 2009 5:48pm EDT

-- The Company Will Provide Supplemental Information on Outstanding Proposals
--

NEW YORK, June 26 /PRNewswire-FirstCall/ -- Westwood One, Inc. (OTC Bulletin
Board: WWON) announced today that it would reconvene its special meeting of
stockholders ("Special Meeting") held earlier today.  The Special Meeting was
adjourned to provide the Company's stockholders with supplemental information
concerning the proposals in the Proxy Statement and, if necessary, to file an
amendment to the Proxy Statement.

The Company's stockholders approved adjourning the Special Meeting as to
Proposals 1, 2, 3, 4 and 5 as set forth in its proxy statement dated June 4,
2009 (the "Proxy Statement").  The proposals are to (1) amend the Company's
Restated Certificate of Incorporation (the "Certificate of Incorporation") to
increase the number of authorized shares of common stock from 300,000,000 to
5,000,000,000, (2) amend the Certificate of Incorporation to effect a reverse
stock split of the Company's outstanding common stock at a ratio of two
hundred to one (200:1), (3) amend the Certificate of Incorporation to define
the term "Continuing Directors" that is used but not currently defined in the
Certificate of Incorporation, (4) amend the Certificate of Incorporation to
delete Article Sixteenth of the Certificate of Incorporation that sets forth
higher approval thresholds than those required under the Delaware General
Corporation Law with respect to certain amendments of the Certificate of
Incorporation, and (5) amend the Certificate of Incorporation to delete the
provision in Article Seventeenth relating to Article Sixteenth should the
proposal to delete Article Sixteenth as set forth in Proposal 4 be approved.

A motion was approved to adjourn the Special Meeting without taking action on
any of the proposals in the Proxy Statement. 

The reconvened Special Meeting will be held at such date, time and place as
shall be determined by the Company's Board of Directors and noticed to the
stockholders.  Only stockholders of record at the close of business on June 3,
2009, the original record date, remain entitled to vote at the reconvened
Special Meeting.  Valid proxies submitted by the Company's stockholders prior
to the June 26, 2009 meeting will continue to be valid for the purpose of the
reconvened meeting unless revoked as provided in the Proxy Statement. 

About Westwood One
Westwood One (OTC Bulletin Board: WWON) is the largest independent provider of
network radio programming and the largest provider of traffic information in
the U.S. Westwood One serves more than 5,000 radio and TV stations in the U.S.
Westwood One provides over 150 news, sports, music, talk and entertainment
programs, features and live events to numerous media partners. Through its
Metro Traffic division, Westwood One provides traffic reporting and local
news, sports and weather to over 2,200 radio and TV stations. Westwood One
also provides digital and other cross-platform delivery of its network and
Metro content. 


SOURCE  Westwood One, Inc.

Peter Sessa, Westwood One, +1-212-641-2053, peter_sessa@westwoodone.com
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