Dial Global, Inc. Announces Intention to Voluntarily Delist from NASDAQ
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 www.dialglobal.com.
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.