It’s a “done deal”. All the Ts are dotted and the I’s crossed.
Oaktree Capital is continuing to own more and more of what we used to call Radio. Dial Global, which is a syndicator of satellite music feeds and other radio “stuff”, along with the former Mother Jones Radio (Ed Shultz, Bill Press, Thom Hartmann, Clark Howard, Neal Boortz, Michael Smerconish, et al) has now absorbed the foundering Westwood One.
Westwood One mostly syndicates live sports (America Loves Sports!(tm)) – NCAA football and basketball and national NFL football and NASCAR.
They also carry some talk shows – Dennis Miller, Doug Urbanski and Loveline, as well as Jim Bohannon and Dirk Van and the Wall Street Journal programs.
At least in the past, Westwood One and CBS radio have been closely affiliated in their operations.
Westwood One is enough of a “recognized brand” that the combined company may not walk away from it in order to show their dominance in the merger – that isn’t clear yet. In any case, another page in the history of the End of Radio as We Knew It has been finished. While Oaktree is not the Dickey Family, they probably share the idea that the best way to make money in radio is to cut the expenses of the programming.