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<S> <C> <C>
___________________________
FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION ____________________________
___________________________ Washington, D.C. 20549 OMB APPROVAL
[_] Check this box ____________________________
if no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB Number: 3235-0287
of Section 16. Form 4 Expires: December 31, 2001
or Form 5 obligations Filed pursuant to Section 16(a) of the Securities Exchange Estimated average burden
may continue. See Act of 1934, Section 17(a) of the Public Utility Holding hours per response.......0.5
Instruction 1(b). Company Act of 1935 or Section 30(f) of the ____________________________
(Print or Type Responses) Investment Company Act of 1940
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________________________________________________________________________________
1. Name and Address of Reporting Person*
Saperstein David I.
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(Last) (First) (Middle)
c/o Weinstein, Spira & Company
2200 Five Greenway Plaza
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(Street)
Houston Texas 70046
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(City) (State) (Zip)
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
Westwood One, Inc. (WON)
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3. IRS Identification Number of Reporting Person, if an entity (voluntary)
________________________________________________________________________________
4. Statement for Month/Year
December 2000
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5. If Amendment, Date of Original (Month/Year)
________________________________________________________________________________
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
________________________________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[_] Form filed by More Than One Reporting Person
________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
________________________________________________________________________________
<TABLE>
<CAPTION>
1. 2. 3. 4. 5. 6. 7.
Title of Security Transaction Transaction Securities Acquired (A) or Amount of Owner- Nature of
(Instr. 3) Date Code Disposed of (D) Securities ship Indirect
(Month/ (Instr. 8) (Instr. 3, 4 and 5) Beneficially Form: Beneficial
Day/ Owned at End Direct Ownership
Year) _______________________________________ of Month (D) or (Instr. 4)
(Instr. 3 Indirect
(A)or and 4) (I)
Code V Amount (D) Price (Instr.4)
____________________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 12/11/00 G 616,697 D $21.8750
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Common Stock 12/11/00 G 376,950 D $21.8750
____________________________________________________________________________________________________________________________________
Common Stock 12/22/00 G 306,353 D $19.4375 11,620,516 1/ D 2/
____________________________________________________________________________________________________________________________________
Common Stock 12/11/00 616,697 A $21.8750
____________________________________________________________________________________________________________________________________
Common Stock 12/11/00 376,950 A $21.8750
____________________________________________________________________________________________________________________________________
Common Stock 12/22/00 306,353 A $19.4375 2,470,465 1/ I 3/
____________________________________________________________________________________________________________________________________
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 2
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
________________________________________________________________________________
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<CAPTION>
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
Title of Conver- Trans- Trans- Number of Date Title and Amount Price Number Owner- Nature
Derivative sion action action Derivative Exercisable and of Underlying of of ship of
Security or Date Code Securities Expiration Date Securities Deriv- Deriv- Form In-
(Instr. 3) Exer- (Instr. Acquired (A) (Instr. 3 and 4) ative ative of direct
cise (Month/ 8) or Disposed (Month/Day/Year) Secu- Secu- Deriv- Bene-
Price Day/ of(D) rity rities ative ficial
of Year) (Instr. 3, (Instr. Bene- Secu- Owner-
Deriv- 4 and 5) 5) ficially rity: ship
ative ________________________________ Owned Direct (Instr.
Secu- at End (D) or 4)
rity Amount of Indirect
Date Expira- or Month (I)
_____________________ Exer- tion Title Number (Instr. (Instr.)
cisable Date of 4) 4)
Code V (A) (D) Shares
____________________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
____________________________________________________________________________________________________________________________________
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[Explanation of Responses]:
1/ These amounts give effect to Westwood One, Inc.'s two for one common stock
split which took effect on March 23, 2000.
2/ During the reporting period, the reporting person gifted a total of 1,300,000
shares to three trusts for the benefit of certain third party charitable
organizations. The reporting person is trustee for each of these trusts.
3/ 1,170,465 of these shares are held in three trusts for the benefit of the
reporting person's minor children. The reporting person's spouse is trustee of
each of these trusts. In addition, 1,300,000 of these shares are held in three
trusts for the benefit of certain third party charitable organizations. The
reporting person is trustee of each of these trusts.
DAVID I. SAPERSTEIN
/s/ David I. Saperstein January 10, 2001
------------------------------- ---------------
**Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
SEC 1474 (3/91)
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