Dial Global, Inc. to Suspend SEC Reporting Obligations
NEW YORK, Feb. 15, 2013 /PRNewswire/ -- Dial Global, Inc. (OTC Pink: DIAL) (the "Company"), has determined to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company intends to file a Form 15 with the Securities and Exchange Commission (the "SEC") to accomplish the suspension today. After making this filing, unless otherwise required by law, the Company does not presently intend to make additional periodic reports with the SEC other than its annual report on Form 10-K with respect to its 2012 fiscal year.
The Company's decision to suspend its reporting obligations under the Exchange Act was taken following a review by the Company's Board of Directors, which determined that such action 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 associated with filing periodic reports with the SEC, the diversion of management attention from other matters that results from being a reporting company, the relatively limited historical volume of trading in the Company's common stock and the applicable federal securities laws.
The Company presently anticipates that its common stock will continue to be quoted on OTC Pink following the suspension of its reporting obligations to the extent market makers continue to make a market in such stock. There can be no assurance, however, that a trading market in the Company's common stock through the over-the-counter market or any other market will be maintained.
About Dial Global, Inc.
Dial Global (OTC Pink: 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 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.