Westwood One Inc. Reduces Debt: The Los...
From Times Staff and Wire reports
Westwood One Inc. Reduces Debt: The Los Angeles producer and distributor of radio programming and parent company of the Mutual Broadcasting System and the NBC Radio Networks, announced that it reduced its outstanding debt by about $49 million through an exchange offer that recently expired. The company accepted all 6.75% convertible subordinated debentures due 2011 in exchange for 9% convertible senior subordinated debentures due 2002.
