UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
------------------------------------
SCHEDULE 13D
(Amendment No. 4)
Under the Securities Exchange Act of 1934
WESTWOOD ONE, INC.
(Name of Issuer)
Common Stock, Par Value $.01 per share
(Title of Class of Securities)
961-815-10-7
(CUSIP Number)
Sumner M. Redstone
National Amusements, Inc.
200 Elm Street
Dedham, Massachusetts 02026
Telephone: (781) 461-1600
with a copy to:
Michael D. Fricklas, Esq.
Viacom Inc.
1515 Broadway
New York, New York 10036
Telephone: (212) 258-6000
(Name, Address and Telephone Number of
Person Authorized to Receive Notices and Communications)
January 2, 2003
(Date of Event which Requires Filing of this Statement)
------------------------------------------------
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of Rule 13d-
1(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with this
statement / /.
Page 2 of 10 Pages
CUSIP No. 961-815-10-7
(1) Name of Reporting Person.
I.R.S. Identification No. of Above Person (entities only)
Infinity Network Inc.
---------------------------------------------------------------
I.R.S. Identification No. 52-1859471
---------------------------------------------------------------
(2) Check the Appropriate Box if a Member of Group (See
Instructions)
/ / (a)
---------------------------------------------------------------
/ / (b)
---------------------------------------------------------------
(3) SEC Use Only
---------------------------------------------------------------
(4) Sources of Funds (See Instructions) N/A
---------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e).
---------------------------------------------------------------
(6) Citizenship or Place of Organization Delaware
---------------------------------------------------------------
Number of (7) Sole Voting Power
Shares ---------------------------------------
Beneficially (8) Shared Voting Power 16,000,000
Owned by ---------------------------------------
Each (9) Sole Dispositive Power
Reporting ---------------------------------------
Person (10) Shared Dispositive Power 16,000,000
With
---------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
16,000,000
---------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
---------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 15.2%
---------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
---------------------------------------------------------------
Page 3 of 10 Pages
CUSIP No. 961-815-10-7
(1) Name of Reporting Person
I.R.S. Identification No. of Above Person (entities only)
Infinity Media Corporation
---------------------------------------------------------------
I.R.S. Identification No. 13-2766282
---------------------------------------------------------------
(2) Check the Appropriate Box if a Member of Group (See
Instructions)
/ / (a)
---------------------------------------------------------------
/ / (b)
---------------------------------------------------------------
(3) SEC Use Only
---------------------------------------------------------------
(4) Sources of Funds (See Instructions) N/A
---------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e).
---------------------------------------------------------------
(6) Citizenship or Place of Organization Delaware
---------------------------------------------------------------
Number of (7) Sole Voting Power
Shares ---------------------------------------
Beneficially (8) Shared Voting Power 16,000,000
Owned by ---------------------------------------
Each (9) Sole Dispositive Power
Reporting ---------------------------------------
Person (10) Shared Dispositive Power 16,000,000
With
---------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
16,000,000
---------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
---------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 15.2%
---------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
---------------------------------------------------------------
Page 4 of 10 Pages
CUSIP No. 961-815-10-7
(1) Name of Reporting Person
I.R.S. Identification No. of Above Person (entities only)
Infinity Broadcasting Corporation
---------------------------------------------------------------
I.R.S. Identification No. 13-4142467
---------------------------------------------------------------
(2) Check the Appropriate Box if a Member of Group (See
Instructions)
/ / (a)
---------------------------------------------------------------
/ / (b)
---------------------------------------------------------------
(3) SEC Use Only
---------------------------------------------------------------
(4) Sources of Funds (See Instructions) N/A
---------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e).
---------------------------------------------------------------
(6) Citizenship or Place of Organization Delaware
---------------------------------------------------------------
Number of (7) Sole Voting Power
Shares --------------------------------------
Beneficially (8) Shared Voting Power 18,000,000*
Owned by --------------------------------------
Each (9) Sole Dispositive Power
Reporting -------------------------------------
Person (10) Shared Dispositive Power 18,000,000*
With
---------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
18,000,000*
---------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
---------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 16.8%
---------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
---------------------------------------------------------------
* Includes 2,000,000 shares underlying warrants that may become
exercisable in the next 60 days.
Page 5 of 10 Pages
CUSIP No. 961-815-10-7
(1) Name of Reporting Person
I.R.S. Identification No. of Above Person (entities only)
Viacom Inc.
---------------------------------------------------------------
I.R.S Identification No. 04-2949533
---------------------------------------------------------------
(2) Check the Appropriate Box if a Member of Group (See
Instructions)
/ / (a)
---------------------------------------------------------------
/ / (b)
---------------------------------------------------------------
(3) SEC Use Only
---------------------------------------------------------------
(4) Sources of Funds (See Instructions) N/A
v---------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e).
---------------------------------------------------------------
(6) Citizenship or Place of Organization Delaware
---------------------------------------------------------------
Number of (7) Sole Voting Power
Shares ---------------------------------------
Beneficially (8) Shared Voting Power 18,000,000*
Owned by --------------------------------------
Each (9) Sole Dispositive Power
Reporting --------------------------------------
Person (10) Shared Dispositive Power 18,000,000*
With
---------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
18,000,000*
---------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
---------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 16.8%
---------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
---------------------------------------------------------------
* Includes 2,000,000 shares underlying warrants that may become
exercisable in the next 60 days.
Page 6 of 10 Pages
CUSIP No. 961-815-10-7
(1) Name of Reporting Person
I.R.S. Identification No. of Above Person (entities only)
NAIRI, Inc.
---------------------------------------------------------------
I.R.S Identification No. 04-3446887
---------------------------------------------------------------
(2) Check the Appropriate Box if a Member of Group (See
Instructions)
/ / (a)
---------------------------------------------------------------
/ / (b)
---------------------------------------------------------------
(3) SEC Use Only
---------------------------------------------------------------
(4) Sources of Funds (See Instructions) N/A
---------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e).
---------------------------------------------------------------
(6) Citizenship or Place of Organization Delaware
---------------------------------------------------------------
Number of (7) Sole Voting Power
Shares --------------------------------------
Beneficially (8) Shared Voting Power 18,000,000*
Owned by --------------------------------------
Each (9) Sole Dispositive Power
Reporting --------------------------------------
Person (10) Shared Dispositive Power 18,000,000*
With
---------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
18,000,000*
---------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
---------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 16.8%
---------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
---------------------------------------------------------------
* Includes 2,000,000 shares underlying warrants that may become
exercisable in the next 60 days.
Page 7 of 10 Pages
CUSIP No. 961-815-10-7
(1) Name of Reporting Person
I.R.S. Identification No. of Above Person (entities only)
National Amusements, Inc.
---------------------------------------------------------------
I.R.S Identification No. 04-2261332
---------------------------------------------------------------
(2) Check the Appropriate Box if a Member of Group (See
Instructions)
/ / (a)
---------------------------------------------------------------
/ / (b)
---------------------------------------------------------------
(3) SEC Use Only
---------------------------------------------------------------
(4) Sources of Funds (See Instructions) N/A
---------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e).
---------------------------------------------------------------
(6) Citizenship or Place of Organization Maryland
---------------------------------------------------------------
Number of (7) Sole Voting Power
Shares ---------------------------------------
Beneficially (8) Shared Voting Power 18,000,000*
Owned by ---------------------------------------
Each (9) Sole Dispositive Power
Reporting ---------------------------------------
Person (10) Shared Dispositive Power 18,000,000*
With
---------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
18,000,000*
---------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
---------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 16.8%
---------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
---------------------------------------------------------------
* Includes 2,000,000 shares underlying warrants that may become
exercisable in the next 60 days.
Page 8 of 10 Pages
CUSIP No. 961-815-10-7
(1) Name of Reporting Person
I.R.S. Identification No. of Above Person (entities only)
Sumner M. Redstone
---------------------------------------------------------------
(2) Check the Appropriate Box if a Member of Group (See
Instructions)
/ / (a)
---------------------------------------------------------------
/ / (b)
---------------------------------------------------------------
(3) SEC Use Only
---------------------------------------------------------------
(4) Sources of Funds (See Instructions) N/A
---------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e).
---------------------------------------------------------------
(6) Citizenship or Place of Organization United States
--------------------------------------------------------------
Number of (7) Sole Voting Power
Shares --------------------------------------
Beneficially (8) Shared Voting Power 18,000,000*
Owned by --------------------------------------
Each (9) Sole Dispositive Power
Reporting --------------------------------------
Person (10) Shared Dispositive Power 18,000,000*
With
---------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
18,000,000*
---------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
---------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 16.8%
---------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) IN
---------------------------------------------------------------
* Includes 2,000,000 shares underlying warrants that may
become exercisable in the next 60 days.
Page 9 of 10 Pages
Item 1. Security and Issuer.
--------------------
This Amendment No. 4 (the "Amendment") is filed by
Infinity Network Inc. ("INI"), Infinity Media Corporation
("IMC"), Infinity Broadcasting Corporation ("IBC" or "Infinity"),
Viacom Inc. ("Viacom"), NAIRI, Inc. ("NAIRI"), National
Amusements, Inc. ("NAI") and Mr. Sumner M. Redstone ("Mr.
Redstone") (collectively, the "Reporting Persons") and amends and
supplements the Statement on Schedule 13D originally filed with
the Securities and Exchange Commission ("SEC") on May 15, 2000,
as amended, with respect to the Common Stock, par value $.01 per
share (the "Common Shares"), of Westwood One, Inc., a Delaware
corporation ("Westwood" or the "Issuer") with its principal
executive office located at 40 West 57th Street, New York, N.Y.
10019.
Item 5. Interest in Securities of the Issuer.
--------------------------------------
Item 5(c) is amended and restated as follows to correct
the vesting terms of the warrants described in Amendment No. 3 to
this Schedule 13D:
(c) Pursuant to the Management Agreement, dated March 30,
1999, as amended, between IBC and the Issuer, as described in
Amendment 2 to this Schedule 13D, on January 2, 2003, IBC
received the following two warrants to purchase Common Stock from
the Issuer:
* A warrant to purchase 1,000,000 shares of the Issuer's
Common Stock at an exercise price of $43.11. This warrant
will become exercisable only if the Issuer's Common Stock
reaches a price of $64.67 on at least 20 out of 30
consecutive Trading Days and has an expiration date of
January 2, 2013.
* A warrant to purchase 1,000,000 shares of the Issuer's
Common Stock at an exercise price of $48.36. This warrant
will become exercisable only if the Issuer's Common Stock
reaches a price of $77.38 on at least 20 out of 30
consecutive Trading Days and has an expiration date of
January 2, 2013.
Item 7. Material to be Filed as Exhibits.
---------------------------------
99 Joint Filing Agreement among Infinity Network Inc.,
Infinity Media Corporation, Infinity Broadcasting
Corporation, Viacom Inc., NAIRI, Inc., National
Amusements, Inc. and Sumner M. Redstone.
Page 10 of 10 Pages
Signatures
-------------
After reasonable inquiry and to the best of our knowledge
and belief, we certify that the information set forth in this
statement is true, complete and correct. Pursuant to Rule 13d-
1(k)(1), each of the undersigned agrees that this statement is
filed on behalf of each of us.
March 11, 2003
Infinity Network, Inc.
By: /s/ Michael D. Fricklas
-----------------------
Michael D. Fricklas
Executive Vice President
Infinity Media Corporation
By: /s/ Michael D. Fricklas
-----------------------
Michael D. Fricklas
Executive Vice President
Infinity Broadcasting Corporation
By: /s/ Michael D. Fricklas
-----------------------
Michael D. Fricklas
Executive Vice President
Viacom Inc.
By: /s/ Michael D. Fricklas
-----------------------
Michael D. Fricklas
Executive Vice President,
General Counsel and Secretary
NAIRI, Inc.
By: /s/ Sumner M. Redstone
-----------------------
Sumner M. Redstone
Chairman and President
National Amusements, Inc.
By: /s/ Sumner M. Redstone
-----------------------
Sumner M. Redstone
Chairman and Chief
Executive Officer
/s/ Sumner M. Redstone
-----------------------
Sumner M. Redstone
Individually
Exhibit 99
JOINT FILING AGREEMENT
The undersigned hereby agree that the Statement on Schedule
13D, dated May 15, 2000 (the "Schedule 13D"), with respect to the
Common Stock, par value $0.01 per share, of Westwood One, Inc.
is, and any amendments executed by us shall be, filed on behalf
of each of us pursuant to and in accordance with the provisions
of Rule 13d-1(k) under the Securities Exchange Act of 1934, as
amended, and that this Agreement shall be included as an exhibit
to the Schedule 13D and each such amendment. Each of the
undersigned agrees to be responsible for the timely filing of the
Schedule 13D and any amendments thereto, and for the completeness
and accuracy of the information concerning itself contained
therein. This agreement may be executed in any number of
counterparts, all of which taken together shall constitute one
and the same instrument.
IN WITNESS WHEREOF, the undersigned have executed this
Agreement as of the 28th day of March, 2002.
Infinity Network, Inc.
By: /s/ Michael D. Fricklas
-----------------------
Michael D. Fricklas
Executive Vice President
Infinity Media Corporation
By: /s/ Michael D. Fricklas
-----------------------
Michael D. Fricklas
Executive Vice President
Infinity Broadcasting Corporation
By: /s/ Michael D. Fricklas
-----------------------
Michael D. Fricklas
Executive Vice President
Viacom Inc.
By: /s/ Michael D. Fricklas
-----------------------
Michael D. Fricklas
Executive Vice President,
General Counsel and Secretary
NAIRI, Inc.
By: /s/ Sumner M. Redstone
-----------------------
Sumner M. Redstone
Chairman and President
National Amusements, Inc.
By: /s/ Sumner M. Redstone
-----------------------
Sumner M. Redstone
Chairman and Chief
Executive Officer
/s/ Sumner M. Redstone
-----------------------
Sumner M. Redstone
Individually