Broadcast company Westwood One has made it on Forbes magazine's "Forbes 2002 200 Best Small Companies" in its October 28 issue. Just a little over a month ago, Westwood One was recognized as one of the "100 Fastest Growing Companies in America" in the September 9 issue of "Fortune" magazine, and was the only broadcast company mentioned.
Forbes Magazine ranked Westwood One 2nd in market value, 7th in profits and 10th in sales on its 2002 200 Best Small Companies list. All companies included in this list must meet "Forbes" Magazine's stringent criterion which requires them to be profitable, earning a minimum of 5% net margin over the last 12 months, and have a five-year average return on equity of 5% or greater.
"This is an exciting year for Westwood One," said Joel Hollander, president/CEO of Westwood One. "The company is experiencing excellent growth and we're proud to receive this recognition from 'Forbes' and 'Fortune'."
Westwood One 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. Westwood One serves more than 7,700 radio stations.