• New York Post, Monday, May 7, 2007 11:32 AM

Radio network Westwood One has asked the investment bank UBS to look for possible buyers before putting itself up for sale next month, according to insiders. Peter Lauria and Zachery Kouwe write that Westwood is waiting for a pending content syndication deal with CBS Radio that is set for May 15 before formalizing an auction. CBS owns an 18% stake in Westwood and in April, the two signed a letter of intent to extend the syndication deal to March of 2017. Final approval is needed to boost the company's finances, which "puts it in a much better position to be sold," says one insider.

UBS has already contacted Citadel Broadcasting as a potential buyer; Shane Coppola is also interested in a deal. Coppola, who consults for Westwood, is son-in-law to David Sapperstein, who founded Metro Networks and later sold it to Westwood. New Tribune Co. owner Sam Zell, who holds about 5% of Westwood shares, isanother possible buyer.

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