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METRO NETWORKS
AND
CANADA TRAFFIC NETWORK
ANNOUNCE AGREEMENT
-- Metro Networks to Represent Canadian 10-Second Advertising Inventory
--
New York,
NY - November 14, 2005 - Metro Networks, a Westwood One (NYSE:
WON) company, and the Canada Traffic Network announced today an agreement
by which Metro Networks will represent Canada Traffic Network 10-second
advertising inventory in the United States, effective immediately. In
addition, Metro Networks has provided financing to Canada Traffic Network
and has received an equity interest. Canada Traffic Network is controlled
by the same investor group as The Australia Traffic Network, in which
Metro Networks also owns an equity interest.
Canada Traffic Network has
contracted with approximately 30 radio stations in seven markets across
Canada, including: Toronto, Montreal, Vancouver, Winnipeg, Edmonton, Calgary
and Hamilton and will commence operations later this year.
"It has always been a
major goal of Metro Networks to expand into Canadian markets,” said
Chuck Bortnick, Co-COO of Westwood One. “We are thrilled to finally
have the right opportunity. This new partnership achieves our goal of
creating a strong platform for future growth.”
”We are pleased to have
Westwood One extend its investment with us to Canada. We have had a very
successful relationship in Australia and expect Canada will be mutually
profitable as well,” commented Global Traffic Network, Inc. Chief
Executive Officer, William L. Yde III.
Canada Traffic Network ULC
(”CTN”) is a wholly owned subsidiary of Global Traffic Network,
Inc. CTN is currently has contracts to provide airborne traffic reports
with radio stations in seven Canadian markets (including Toronto, Montreal
and Vancouver) and expects to commence operations in the near future.
CTN is affiliated with The Australia Traffic Network Pty Limited (“ATN”),
the largest traffic service provider to the Australian broadcast industry.
Recently, in addition to traffic, ATN has begun to news reports to radio
stations throughout Australia.
Westwood One (NYSE:
WON) provides over 150 news, sports, music, talk, entertainment programs,
features, live events and 24/7 formats. Through its subsidiaries, Metro
Networks/Shadow Broadcast Services, Westwood One provides local content
to the radio and TV industries including news, sports, weather, traffic,
video news services and other information. SmartRoute Systems manages
traffic information centers for state and local departments of transportation,
and markets traffic and travel content to wireless, Internet, in-vehicle
navigation systems and voice portal customers. Westwood One serves more
than 5,000 radio stations. Westwood One is managed by Infinity Broadcasting
Corporation.
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Press
Contact:
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Peter Sessa
Westwood One
212.641.2053
peter_sessa@westwoodone.com
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