8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


Date of Report (Date of earliest event reported) March 18, 2003


                               WESTWOOD ONE, INC.
             (Exact name of registrant as specified in its charter)


          Delaware                   0-13020                    95-3980449
- -----------------------------     --------------           --------------------
    (State or other                 (Commission                 (IRS Employer
jurisdiction of incorporation       File Number)             Identification No.)


              40 W 57th Street 5th Floor, New York, New York 10019
          (Address of principal executive offices, including zip code)

       Registrant's telephone number, including area code (212) 641-2000



(Former name or former address, if changed since last report)


Item 5.  Other Events and Regulation FD Disclosure.

Registrant issued a press release updating its financial  guidance for the first
quarter and full year 2003.

Item 7.  Financial Statements and Exhibits

99.1 Press release of Westwood One, Inc. updating its financial guidance for the
     first quarter and full year 2003.


                                   SIGNATURES
                                   ----------

Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.



                                                    /S/ Jacques Tortoroli
Date:  March 18, 2003                               ----------------------------
       --------------                               Jacques Tortoroli
                                                    Chief Financial Officer


                                  EXHIBIT INDEX
                                  -------------

Exhibit No.    Exhibit
- -----------    -------

99.1           Press Release of Westwood One, Inc. updating its financial
               guidance for the first quarter and full year 2003.

EX-99

                            EXHIBIT 99.1 TO FORM 8-K

                               WESTWOOD ONE, INC.
                                  PRESS RELEASE


                                                      FOR  IMMEDIATE RELEASE
                                                      CONTACT: JACQUES TORTOROLI
                                                      (212) 846-6159



               WESTWOOD ONE, INC. UPDATES 2003 FINANCIAL GUIDANCE

     New York, NY - March 18, 2003 - Westwood One, Inc.  (NYSE:  WON)  announced
today that it is updating its financial  guidance for the first quarter and full
year 2003.

     "In light of the extraordinary uncertainty surrounding an imminent war with
Iraq, we have been  experiencing a softening of advertising  sales over the past
four weeks as advertisers  try to ascertain the duration of the conflict and its
possible effect on their business. Therefore, we wanted to take this opportunity
to update our shareholders on our outlook for 2003 as we currently see it," said
Joel Hollander, President and Chief Executive Officer of Westwood One.

     For the first quarter of 2003, the Company said that it anticipates revenue
and  Operating  Cash Flow to come in slightly  down versus  prior-year  results,
compared  with prior  guidance of low to  mid-single  digit  revenue  growth and
double-digit growth in Operating Cash Flow. For full year 2003, the Company said
it now expects low to mid-single  digit  revenue  growth and  high-single  digit
Operating  Cash Flow growth versus prior  guidance of  mid-single  digit revenue
growth  and  double-digit  growth  in  Operating  Cash Flow in the range of $210
million to $215 million.

     "Our  advertisers  are  telling us that they  believe  they will  return to
normal  advertising  levels but are uncertain  about the timing," Mr.  Hollander
added.  "We will  continue to work  closely with our  advertisers  and help them
return to the market and reach their customers as soon as possible. Westwood One
remains fundamentally strong and we continue to believe that the Company is well
positioned over the long term."

     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.  SmartRoute  Systems manages update information
centers for state and local departments of  transportation,  and markets traffic
and travel  content to wireless,  Internet,  in-vehicle  navigation  systems and
voice  portal  customers.  Westwood  One serves more than 7,500 radio  stations.
Westwood One,  Inc. is managed by Infinity  Broadcasting  Corporation,  a wholly
owned subsidiary of Viacom Inc.



     Certain statements in this release constitute "forward-looking  statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking  statements  involve known and unknown risks,  uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company to be materially  different from any future results,  performance or
achievements expressed or implied by such forward-looking  statements. The words
or phrases "guidance,"  "expect,"  "anticipate,"  "estimates" and "forecast" and
similar  words or  expressions  are  intended to identify  such  forward-looking
statements.  In addition  any  statements  that refer to  expectations  or other
characterizations   of  future  events  or  circumstances  are   forward-looking
statements.  Various risks that could cause future  results to differ from those
expressed by the  forward-looking  statements  included in this release include,
but are not limited to: Changes in economic  conditions in the U.S. and in other
countries in which Westwood One, Inc.  currently does business (both general and
relative to the  advertising  and  entertainment  industries);  fluctuations  in
interest   rates;   changes  in  industry   conditions;   changes  in  operating
performance;  shifts in population and other demographics;  changes in the level
of  competition  for  advertising  dollars;  fluctuations  in  operating  costs;
technological changes and innovations;  changes in labor conditions;  changes in
governmental  regulations and policies and actions of regulatory bodies; changes
in tax rates; changes in capital expenditure  requirements and access to capital
markets.  Other key risks are described in the Company's  reports filed with the
U.S. Securities and Exchange Commission. Except as otherwise stated in this news
announcement,  Westwood One, Inc. does not undertake any  obligation to publicly
update or revise any  forward-looking  statements  because  of new  information,
future events or otherwise.


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