Westwood One Inc. (NYSE:WON)
Industry: Services
Westwood One, Inc. supplies radio and television stations with information services and programming. The Company provides traffic reporting services, as well as produces and distributes national news, sports, talk, music and special event programs, in addition to local news, sports, weather, video news and other information programming. Westwood One obtains the commercial airtime it sells to advertisers from radio and television affiliates in exchange for the programming it provides to them. That commercial airtime is sold to local/regional advertisers and to national advertisers. The Company provides local traffic and information broadcast reports in over 95 Metro Survey Area (MSA) markets in the United States. Westwood One is managed by CBS Radio Inc., a wholly owned subsidiary of CBS Corporation. Westwood One also offers radio stations traditional news services, such as CBS Radio news and CNN Radio news, seven 24-hour satellite-delivered continuous play music formats (24/7 Formats) and daily news/entertainment features and programs. These programs include major sporting events, such as the National Football League, Notre Dame football and other college football and basketball games, the National Hockey League, the Masters and the Olympics, live, personality-intensive talk shows, live concert broadcasts, countdown shows, music and interview programs and exclusive satellite simulcasts with cable networks. Local Traffic and Information Programming Westwood One, through its Traffic and Information division, provides traffic reports and local news, weather and sports information programming to radio and television affiliates. The Company gathers traffic and other data utilizing its information-gathering infrastructure, which includes aircraft (helicopters and airplanes), broadcast-quality remote camera systems positioned at strategically located fixed positions and on aircraft, mobile units and wireless systems, and by accessing various government-based traffic tracking systems. Westwood One also gathers information from various third-party news and information services. In the aggregate, the Company utilizes approximately 110 helicopters and fixed-wing aircraft, 39 mobile units, 32 airborne camera systems, 125 fixed-position camera systems, 70 broadcast studios and 1,400 broadcasters and producers. Metro Source, an information service available to subscribing affiliates, is an information system and digital audio workstation that allows its news affiliates to receive via satellite and view, write, edit and report the latest news, features and show preparation material. With this product, Westwood One provides continuously updated and breaking news, weather, sports, business and entertainment information to its affiliate stations that have subscribed to the service. Information and content for Metro Source is primarily generated from the Company's staff of news bureau chiefs, state correspondents and professional news writers and reporters. Television Programming Services Westwood One supplies television traffic services (MetroTV Services) to over 200 television stations. With its MetroTV Services, the Company supplies customized information reports that are generally delivered on air by its reporters to its television station affiliates. In addition, Westwood One supplies customized graphics and other visual programming elements to its television station affiliates. The Company utilizes live studio cameras in order to enable its traffic reporters to provide its Video News Services on television from its local broadcast studios. In addition, Westwood One provides its Video News services from its aircraft and fixed-position-based camera systems. The Video News services include live video coverage from strategically located fixed-position camera systems; live video news feeds from its aircraft, and full-service, 24 hours per day/seven days per week video coverage from its camera crews using broadcast camera equipment and news vehicles. SmartRoute Systems SmartRoute (SRS) develops techniques for gathe
As Of: 10/07 00:00 ET
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