Opponents to the $260 million sale of program syndicator and radio services provider Dial Global, now renamed WestwoodOne, to Cumulus have begun to express their concerns.
Talk Radio Network Enterprises LLC and its affiliates Talk Radio Network-FM, Talk Radio Network Entertainment, America's Radio News Network, National Weekend Radio Syndications and Talk Radio Network Operations oppose the deal. The company has a pending lawsuit against DG in New York and Oregon, alleging that the rival company violated antitrust laws.
In a statement, TRN said over the past five years Dial Global as become a monopoly “engaged in a long list of illegal and unethical behavior, including failing to pay us our share of advertising revenues generated by our programming.”
TRN says it will continue to “vigorously” pursue its claims against Dial Global and take action to “oppose Cumulus’ proposed acquisition, including in our pending litigation with Dial, with appropriate governmental authorities, and in the media.”
Meanwhile, several law firms have threatened to file potential lawsuits from Dial Global shareholders, saying they’re looking into whether the company got the best deal it could for shareholders.