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 - July 1, 2003 - Westwood  One, Inc.  (NYSE:  WON)  announced
today that it is updating its full year 2003 financial guidance.

     The Company  reported that the softening of advertiser  sales that began in
the first quarter  continued to adversely affect revenues longer into the second
quarter than anticipated. As a result, for the second quarter 2003, Westwood One
expects  revenues to be down  mid-single  digits from last year's second quarter
with a corresponding  mid-teens  decrease in operating income. For the full year
2003,  the  Company  now  expects  revenue to be flat to  slightly  up from 2002
results and  operating  income to be flat to slightly  down from the  comparable
period in 2002. Earnings per share is expected to be flat to slightly up for the
year.

     "While our business did not recover as quickly as anticipated in April, our
revised full year guidance  reflects the recent turnaround that we are currently
seeing in our  business in the second half of the  year,"-  said Shane  Coppola,
President and Chief  Executive  Officer of Westwood One.  "Assuming the recovery
continues,  we now believe we will be able to increase revenue low-to mid-single
digits  in the last  half of the  year and  increase  operating  income  mid- to
high-single   digits  in  the  same   period.   Westwood   One  is  strong   and
well-positioned  over the long term,  and we remain  committed  to  keeping  our
expenses under control and to continuing to buy-back our stock."

     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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