Dial Global, Inc. Announces Intention to Voluntarily Delist from NASDAQ
NEW YORK, Nov. 15, 2012
NEW YORK, Nov. 15, 2012 /PRNewswire/ --Dial Global, Inc. (NASDAQ: DIAL) (the
"Company"), a leader in the distribution of and sale of national audio
content, announced today that it has notified the Nasdaq Stock Market
("NASDAQ") of its intention to voluntarily delist from NASDAQ's Global Market.
The decision to voluntarily delist from NASDAQ was taken following a review by
the Company's Board of Directors, which determined that a delisting would be
in the best interests of the Company. In reaching this conclusion, the
Company's Board of Directors considered numerous factors, including, among
other things, the compliance costs and obligations that result from the
maintenance of the Company's listing on NASDAQ, the relatively limited
historical volume of trading in the Company's common stock, the applicable
federal securities laws and the applicable NASDAQ rules.
The Company currently anticipates that it will file a Form 25 with the U.S.
Securities and Exchange Commission on or about November 26, 2012 to commence
the delisting process. It is expected that the delisting will take effect on
or about December 6, 2012. The Company has not arranged for listing and/or
registration of its common stock on another national securities exchange.
Following delisting, the Company's common stock will no longer trade on NASDAQ
under the symbol "DIAL", and it is expected that, if one or more market makers
determine to make a market in our common stock, the Company's common stock
will then instead trade on the OTC Pink Sheets.
About Dial Global, Inc.
Dial Global (NASDAQ: DIAL) Defines Great Moments in sports, news and
entertainment through its radio networks which are heard by over 225 million
listeners a week. As America's leading provider and distributor of audio
content to more than 8,500 radio stations nationwide, Dial Global produces
over 200 news, sports, talk, music and entertainment programs, services and
digital applications, jingles and imaging. For more information, visit
Note to Investors
This press release may contain certain forward-looking statements based on our
current expectations, forecasts and assumptions that involve risks and
uncertainties. This release does not constitute an offer to sell or a
solicitation of offers to buy any securities of the Company. Forward-looking
statements in this release are based on information available to us as of the
date hereof. Our actual results may differ materially from those stated or
implied in such forward-looking statements, due to risks and uncertainties
associated with our business, which include the risk factors disclosed in our
Form 10-Q filed on November 15, 2012, in our Form 10-K/A filed on April 30,
2012, and in our Form 10-K filed on March 30, 2012. Forward-looking statements
include statements regarding our expectations, beliefs, intentions or
strategies regarding the future and can be identified by forward-looking words
such as "anticipate," "believe," "could," "estimate," "expect," "intend,"
"may," "should," and "would" or similar words. We assume no obligation to
update the information included in this press release, whether as a result of
new information, future events or otherwise.
SOURCE Dial Global, Inc.
Contact: Spencer Brown, Dial Global, +1-212-967-2888
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