WESTWOOD ONE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)

Year Ended December 31
	2001	2000	1999
GROSS REVENUES	$597,719	$644,774	$414,959
Less Agency Commissions	81,779	91,081	56,654
	--------------	--------------	--------------
NET REVENUES	515,940	553,693	358,305
	--------------	--------------	--------------
Operating Costs and Expenses Excluding Depreciation and Amortization	343,120	380,346	261,538
Depreciation and Amortization	67,611	62,104	30,214
Corporate General and Administrative Expenses	6,816	7,749	5,756
	--------------	--------------	--------------
	417,547	450,199	297,508
	--------------	--------------	--------------
OPERATING INCOME	98,393	103,494	60,797
Interest Expense	8,705	10,785	12,150
Other Income	929	(659)	(610)
	--------------	--------------	--------------
INCOME BEFORE TAXES	88,759	93,368	49,257
INCOME TAXES	45,564	51,085	25,370
	--------------	--------------	--------------
NET INCOME	$ 43,195	$ 42,283	$ 23,887
	========	========	========
INCOME PER SHARE:
Basic	$ .40	$ .38	$ .33
Diluted	$ .38	$ .36	$ .30
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic	107,551	110,640	72,168
Diluted	112,265	115,864	78,930

See accompanying notes to consolidated financial statements.