Westwood One Inc.: The Culver City-based radio...

Westwood One Inc.: The Culver City-based radio programming and broadcasting company reported that it lost $9 million for the third quarter ended Aug. 31. Revenue increased 36% to $36 million, compared to the year-earlier quarter. William J. Battison, president and chief financial officer, said earnings were adversely affected by $4 million in after-tax expenses to settle a class-action suit as well as by higher interest expenses and amortization of goodwill. “While the acquisition of radio stations has continued to adversely affect reported earnings due to interest expense and goodwill amortization, the company’s cash flow from operations has improved dramatically,” Battison said.