Westwood One Refinances

Skadden represented Westwood One, Inc. in connection with the company’s recent refinancing of substantially all of its outstanding long-term indebtedness and recapitalization of its equity. All of the transactions contemplated by the overall recapitalization, which allowed Westwood One to complete a successful out-of-court restructuring, were simultaneously signed and closed on April 23. Westwood One is the largest independent provider of network radio programming and the largest provider of traffic information in the United States.