Dial Global, Inc. announced that the company, its lenders and certain of its stockholders closed on the company's previously announced recapitalization of the Company's existing credit facilities, other obligations and equity interests. As part of the recapitalization, the company entered into an Amended and Restated Credit Agreement, by and among the company, General Electric Capital Corporation, as administrative agent and collateral agent, and the lenders party thereto, which, after taking into account a $15 million paydown, consists of a term loan of $136 million and revolving credit commitments of approximately $23 million, $18 million of which is drawn. The maturity date under the First Lien Credit Agreement is October 21, 2016. The company also entered into a Priority Second Lien Credit Agreement among the company, Cortland Capital Market Services, LLC, as administrative agent and collateral agent, Blackrock Kelso Capital Corporation, as syndication agent and as the lender party thereto, for an additional $31.5 million term loan facility, with a maturity date of July 21, 2017. The company issued to Blackrock penny warrants to purchase 7.5% of the company's common stock.

Wegener Corp. and Dial Global, Inc. announced the joint development of a system that provides real-time verification of over-the-air content playback via affiliated stations using Wegener's store forward radio network media player. AM/FM Radio tuners in Dial Global/WEGENER store-forward media players listen to the programming being transmitted by the radio station. An advanced software application developed by WEGENER for Dial Global compares the transmitted programming to what was played by the media player, verifying that what the station intended to play is what actually went to air. WEGENER has continued to advance the capabilities of the delivery platform on a regular basis, providing Dial Global with the Gold Standard of network programming delivery.

Dial Global, Inc. filed its 10-K on Apr 01, 2013 for the period ending Dec 31, 2012. In this report its auditor, Ernst & Young LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.