FORM 10-Q
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                  QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
                    OF THE SECURITIES EXCHANGE ACT OF 1934



For Quarter Ended September 30, 2000             Commission File Number  0-13020


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



           DELAWARE                                              95-3980449
-------------------------------                              -------------------
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                               Identification No.)



                40 WEST 57TH STREET, 5TH FLOOR, NEW YORK, NEW YORK
                --------------------------------------------------
                  10019 (Address of principal executive offices
                                  and zip code)


       Registrant's telephone number, including area code: (310) 204-5000




Indicate by check mark whether the registrant (1) has filed all reports required
to be filed  by  Section  13 or 15 (d) of the  Securities  Exchange  Act of 1934
during the preceding 12 months (or for such shorter  period that the  registrant
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days.

                   Yes     X                  No
                         -----                     -----

As of October 31, 2000,  108,760,286 shares of Common Stock,  excluding treasury
shares, and 703,466 shares of Class B Stock were outstanding.


<PAGE>


                               WESTWOOD ONE, INC.
                               ------------------
                                      INDEX
                                      -----




PART I.  FINANCIAL INFORMATION:                                         Page No.


                  Consolidated Balance Sheets                              3

                  Consolidated Statements of Operations                    4

                  Consolidated Statements of Cash Flows                    5

                  Notes to Consolidated Financial Statements               6

                  Management's Discussion and Analysis of
                  Financial Condition and Results of
                  Operations                                               9






PART II. OTHER INFORMATION                                                 11

                  SIGNATURES                                               12



                                        2

<PAGE>
                               WESTWOOD ONE, INC.
                           CONSOLIDATED BALANCE SHEETS
                                 (In thousands)
<TABLE>
<CAPTION>


                                                                                September 30,        December 31,
                                                                                    2000                 1999
                                     ASSETS                                         ----                 ----
                                     ------
<S>                                                                             <C>                  <C>

CURRENT ASSETS:
  Cash and cash equivalents                                                     $    2,631           $  10,626
  Accounts receivable, net of allowance for doubtful accounts
     of $7,664 (2000) and $7,714 (1999)                                            121,533             145,833
  Other current assets                                                              10,403              12,800
                                                                                ----------           ---------
         Total Current Assets                                                      134,567             169,259
PROPERTY AND EQUIPMENT, NET                                                         53,172              55,957
INTANGIBLE ASSETS, NET                                                           1,057,774           1,078,587
OTHER ASSETS                                                                        20,317              31,085
                                                                                ----------           ---------
            TOTAL ASSETS                                                        $1,265,830          $1,334,888
                                                                                ==========          ==========

                           LIABILITIES AND SHAREHOLDERS' EQUITY
                           ------------------------------------

CURRENT LIABILITIES:
  Accounts payable                                                              $   41,584          $   32,121
  Current maturity of long-term debt                                                10,000              10,000
  Other accrued expenses and liabilities                                            94,663              85,884
                                                                                ----------          ----------
         Total Current Liabilities                                                 146,247             128,005
LONG-TERM DEBT                                                                     122,500             158,000
OTHER LIABILITIES                                                                   28,451              29,108
                                                                                ----------          ----------
         TOTAL LIABILITIES                                                         297,198             315,113
                                                                                ----------          ----------
COMMITMENTS AND CONTINGENCIES                                                        -                   -
SHAREHOLDERS' EQUITY
  Preferred stock: authorized 10,000,000 shares, none outstanding                    -                   -
  Common stock, $.01 par value: authorized,  300,000 shares;
    issued, 129,217 (2000) and 127,898 (1999)                                        1,290               1,280
  Class B stock, $.01 par value: authorized,  3,000 shares:
    issued and outstanding, 703 (2000 and 1999)                                          7                   7
  Additional paid-in capital                                                     1,193,542           1,171,370
  Accumulated earnings                                                              48,857              24,387
  Accumulated other comprehensive income (loss)                                     (1,197)              7,862
                                                                                ----------           ---------
                                                                                 1,242,499           1,204,906
  Less treasury stock, at cost; 19,663 (2000) and 16,421 (1999) shares            (273,867)           (185,131)
                                                                                ----------           ---------
         TOTAL SHAREHOLDERS' EQUITY                                                968,632           1,019,775
                                                                                ----------           ---------
         TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                             $1,265,830          $1,334,888
                                                                                ==========          ==========

</TABLE>


          See accompanying notes to consolidated financial statements.
                                        3



<PAGE>

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

<TABLE>
<CAPTION>


                                                            Three Months Ended     Nine Months Ended
                                                                September 30,        September 30,
                                                            ------------------     -----------------
                                                            2000        1999       2000        1999
                                                            ----        ----       ----        ----
<S>                                                         <C>         <C>        <C>         <C>

     GROSS REVENUES                                         $161,533    $91,209    $464,507    $235,545
     Less Agency Commissions                                  22,519     12,307      66,890      31,772
                                                            --------    -------    --------    --------
        NET REVENUES                                         139,014     78,902     397,617     203,773
                                                             -------    -------    --------    --------
     Operating Costs and Expenses Excluding
     Depreciation and Amortization                            96,980     57,677     280,635     157,945
     Depreciation and Amortization                            15,834      5,719      46,957      15,012
     Corporate General and Administrative Expenses             2,020      1,126       6,104       3,321
                                                            --------    -------    --------    --------
                                                             114,834     64,522     333,696     176,278
                                                            --------    -------    --------    --------
     OPERATING INCOME                                         24,180     14,380      63,921      27,495
     Interest Expense                                          2,486      2,992       7,612       8,946
        Other Income                                            (164)      (155)       (536)       (474)
                                                            --------    -------    --------    --------
     INCOME BEFORE INCOME TAXES                               21,858     11,543      56,845      19,023
        INCOME TAXES                                          11,988      6,213      32,375       9,512
                                                            --------    -------    --------    --------

          NET INCOME                                          $9,870     $5,330     $24,470      $9,511
                                                            ========    =======     =======    ========

     NET INCOME PER SHARE:
             BASIC                                             $ .09      $ .08       $ .22       $ .16
                                                            ========    =======     =======    ========
             DILUTED                                           $ .09      $ .08       $ .21       $ .14
                                                            ========    =======     =======    ========

     WEIGHTED AVERAGE SHARES OUTSTANDING:
             BASIC                                           110,057     63,864     111,397      59,020
                                                            ========   ========     =======    ========
             DILUTED                                         114,929     70,862     117,165      66,526
                                                            ========   ========     =======    ========

</TABLE>


          See accompanying notes to consolidated financial statements.
                                       4





<PAGE>
                               WESTWOOD ONE, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (In thousands)

<TABLE>
<CAPTION>

                                                                                Nine Months Ended
                                                                                   September 30,
                                                                                -----------------
                                                                                2000         1999
                                                                                ----         ----
<S>                                                                             <C>          <C>
     CASH FLOW FROM OPERATING ACTIVITIES:
          Net income                                                            $ 24,470     $ 9,511
     Adjustments to reconcile net income to net cash provided by
     operating activities:
     Depreciation and amortization                                                46,957      15,012
     Deferred taxes and other                                                      7,811       6,904
                                                                                --------     -------
                                                                                  79,238      31,427
     Changes in assets and liabilities:
     Decrease in accounts receivable                                              22,659       2,019
     Decrease (Increase) in other assets                                             992      (1,943)
     Increase (Decrease) in accounts payable and accrued liabilities              24,863      (2,623)
                                                                                --------     -------
                     Net Cash Provided By Operating Activities                   127,752      28,880
                                                                                --------     --------
     CASH FLOW FROM INVESTING ACTIVITIES:
     Acquisition of companies and other                                          (14,142)     14,781
     Capital expenditures                                                         (7,371)     (2,581)
                                                                                --------    --------
                     Net Cash (Used In) Provided By Investing Activities         (21,513)     12,200
                                                                                --------    --------
                     CASH PROVIDED BEFORE FINANCING ACTIVITIES                   106,239      41,080
                                                                                --------    --------
     CASH FLOW FROM FINANCING ACTIVITIES:
     Issuance of common stock                                                     12,523      11,427
     Debt repayments and payments of capital lease obligations                   (38,021)    (21,084)
     Repurchase of common stock                                                  (88,736)    (23,470)
                                                                                --------    --------
                     NET CASH USED IN FINANCING ACTIVITIES                      (114,234)    (33,127)
                                                                                --------    --------
     NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                         (7,995)      7,953

     CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                             10,626       2,549
                                                                                --------     -------
     CASH AND CASH EQUIVALENTS AT END OF PERIOD                                 $  2,631     $10,502
                                                                                ========     =======

</TABLE>

          See accompanying notes to consolidated financial statements.
                                        5




<PAGE>

                               WESTWOOD ONE, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------
                      (In thousands, except per share data)


NOTE 1 - Basis of Presentation:
------------------------------

     The accompanying  consolidated  balance sheet as of September 30, 2000, the
consolidated statements of operations for the three and nine month periods ended
September  30, 2000 and 1999 and the  consolidated  statements of cash flows for
the nine months  ended  September  30, 2000 and 1999 are  unaudited,  but in the
opinion of management include all adjustments  necessary for a fair presentation
of the  financial  position  and the  results  of  operations  for  the  periods
presented.

     These consolidated  financial statements should be read in conjunction with
the Company's Annual Report on Form 10-K, filed with the Securities and Exchange
Commission.

     Total  comprehensive  income for the Company  includes net income and other
comprehensive   income   items   including   unrealized   loss  on   securities.
Comprehensive income is as follows:

<TABLE>
<CAPTION>
                                                             Three Months Ended   Nine Months Ended
                                                                September 30,       September 30,
                                                             ------------------   -----------------

                                                             2000        1999     2000         1999
                                                             ----        ----     ----         ----
<S>                                                          <C>         <C>      <C>          <C>
Net Income                                                  $ 9,870      $ 5,330  $24,470      $ 9,511
Unrealized loss on securities, net of tax                   (   417)           -   (9,059)           -
                                                            -------      -------  -------      -------

Comprehensive income                                        $ 9,453      $ 5,330  $15,411      $ 9,511
                                                            =======      =======  =======      =======

</TABLE>

NOTE 2 - Reclassification:
--------------------------

     Certain  prior  period  amounts  have been  reclassified  to conform to the
current presentation.

NOTE 3 - Earnings Per Share:
----------------------------

     Net income per share is computed  in  accordance  with SFAS No. 128.  Basic
earnings per share  excludes all dilution and is  calculated  using the weighted
average number of shares  outstanding in the period.  Diluted earnings per share
reflects the potential  dilution  that would occur if all financial  instruments
which may be  exchanged  for equity  securities  were  exercised or converted to
Common Stock.

     The  Company  has issued  options  and  warrants  which may have a dilutive
effect on reported earnings if they were exercised or converted to Common Stock.
The following  numbers of shares related to options and warrants that were added
to the basic  weighted  average  shares  outstanding  to  arrive at the  diluted
weighted average shares outstanding for each period:
                                       6

<PAGE>

<TABLE>
<CAPTION>
                               Three Months Ended             Nine Months Ended
                                  September 30,                  September 30,
                               ------------------             -----------------
                               2000          1999             2000         1999
                               ----          ----             ----         ----
<S>                            <C>           <C>              <C>          <C>

Warrants                       1,379        4,568             1,530        5,676
Options                        3,493        2,430             4,238        1,830

</TABLE>

NOTE 4 - Debt:
--------------

     At September  30, 2000 the Company had  outstanding  borrowings of $132,500
under its bank revolving credit facility and available borrowings of $40,000.

NOTE 5 - Acquisition:
---------------------

     On September 22, 1999 the Company  acquired all the issued and  outstanding
common and preferred stock of Metro Networks,  Inc. ("'Metro") for approximately
$954,400. The acquisition was accounted for as a purchase with the excess of the
purchase price over the fair value of the net assets  acquired  being  amortized
over 25 years.

     The unaudited pro forma combined  historical  results, as if Metro had been
acquired on January 1, 1999 are estimated as follows:

<TABLE>
<CAPTION>

                               Three Months Ended          Nine Months Ended
                                  September 30,              September  30,
                               ------------------          -----------------
<S>                           <C>            <C>           <C>          <C>

                               2000          1999          2000         1999
                               ----          ----          ----         ----
Net Revenues                   $139,014      $121,012      $397,617     $337,230
Net Income                        9,870         2,050        24,470        3,256
Net Income Per Share:
       Basic                       $.09          $.02          $.22         $.03
       Diluted                      .09           .02           .21          .03

</TABLE>


     This pro forma financial  information is presented for comparative purposes
only and is not  necessarily  indicative of the operating  results that actually
would have occurred had the Metro  acquisition  been  consummated  on January 1,
1999.  In addition,  these results are not intended to be a projection of future
results and do not reflect any  synergies  that might be achieved  from combined
operations.

     On June  12,  2000 the  Company  entered  into a  definitive  agreement  to
purchase the operating assets of SmartRoute Systems for approximately $25,000 in
cash and the assumption of certain  obligations.  The purchase is expected to be
completed in the fourth quarter of 2000.

NOTE 6 - Stock Split:
---------------------

     In March  2000,  the  Company's  shareholders  approved  an increase in the
number of  authorized  shares of common  stock from  117,000 to 300,000  and the
Company subsequently  effected a two-for-one stock split of its Common Stock and
Class B Stock.  All  references  to Common Stock,  Class B Stock,  common shares
outstanding,  weighted  average shares  outstanding,  and per share amounts have
been restated to give retroactive effect to the stock split.


                                       7

<PAGE>

NOTE 7 - Subsequent Events:
---------------------------

     In October 2000, the Company amended its existing revolving credit facility
to permit the  repurchase of Common Stock  provided the  Company's  debt to cash
flow ratio is less than 4.0:1,  to increase the  Company's  capital  expenditure
limitation  and  to  allow  for up to  $150,000  of  additional  debt  on  terms
substantially similar to its existing facility.
                                       8
<PAGE>


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                  ---------------------------------------------
                    (In thousands, except per share amounts)

     All references to Common Stock, Class B Stock,  common shares  outstanding,
weighted average shares  outstanding and per share amounts have been restated to
give retroactive  effect to the two-for-one  split of the Company's Common Stock
and Class B Stock which was paid to shareholders in March 2000.

     On September 22, 1999, the Company  completed the acquisition of Metro. The
acquisition was treated as a purchase and accordingly, the results of operations
of Metro are included in the Company's  consolidated  financial  statements from
September 22, 1999.

RESULTS OF OPERATIONS

THREE MONTHS ENDED SEPTEMBER 30, 2000 COMPARED
WITH THREE MONTHS ENDED SEPTEMBER 30, 1999
------------------------------------------

     Westwood  One derives  substantially  all of its  revenue  from the sale of
advertising  time to  advertisers.  Net revenue  increased  $60,112,  or 76%, to
$139,014 in the third quarter of 2000 from $78,902 in the comparable  prior year
quarter.  The  increase  in net  revenue was  primarily  attributable  to higher
revenues at the Company's  network  operations,  including  the  Company's  live
coverage of the 2000 Summer  Olympics,  and  traffic  operations  as well as the
Company's  September 1999  acquisition of Metro. On a pro forma basis,  assuming
the acquisition of Metro had occurred as of January 1, 1999, net revenue for the
third quarter of 2000 would have increased by approximately by 15%.

     Operating  costs  and  expenses  excluding  depreciation  and  amortization
increased  $39,303 or 68%, to $96,980 in the third  quarter of 2000 from $57,677
in the third  quarter of 1999.  The  increase was due  principally  to operating
expenses  associated with the Metro  acquisition  and broadcast  rights fees and
other related costs associated with the 2000 Summer Olympics.

     Depreciation and amortization increased $10,115, or 177%, to $15,834 in the
third  quarter of 2000 as compared to $5,719 in the third  quarter of 1999.  The
increase is principally  attributable to the amortization of goodwill  resulting
from the Metro acquisition.

     Corporate general and  administrative  expenses  increased $894, or 79%, to
$2,020 in the third quarter of 2000 from $1,126 in the comparable  1999 quarter.
The increase is principally attributable to higher management fees.

     Operating income increased  $9,800, or 68%, to $24,180 in the third quarter
of 2000 from $14,380 in the third  quarter of 1999 due to higher  revenues  from
the  Company's   operations   partially   offset  by  higher   depreciation  and
amortization.

     Interest expense  decreased 17% to $2,486 in the third quarter of 2000 from
$2,992 in 1999.  The decrease is principally  attributable  to lower debt levels
partially offset by higher interest rates.

     Income taxes increased  $5,775,  or 93%, to $11,988 in the third quarter of
2000 from $6,213 in the third quarter of 1999.  The Company's  effective  income
tax rate in the first nine months of 2000 was  approximately 57% due principally
to non-deductible goodwill amortization from the Metro acquisition.

     Net income increased  $4,540, or 85%, to $9,870 ($.09 per basic and diluted
share) in the third  quarter  of 2000 from  $5,330  ($.08 per basic and  diluted
share) in the third quarter of 1999.

     Weighted  average  shares  outstanding  for the third  quarter of 2000 were
110,057  basic  shares and 114,929  diluted  shares as compared to 63,864  basic
shares and 70,862  diluted  shares in the third  quarter of 1999, an increase of
72% for basic shares and 62% for diluted shares. The increase is attributable to
stock  issued as part of the Metro  acquisition  and the  exercise  of  options,
partially offset by stock repurchases.


                                      9


<PAGE>

NINE MONTHS ENDED SEPTEMBER 30, 2000 COMPARED
WITH NINE MONTHS ENDED SEPTEMBER 30, 1999
-----------------------------------------

     Net  revenue for the first nine  months of 2000  increased  95% to $397,617
from $203,733 in the first nine months of 1999.  The increase in net revenue was
due to a strong advertising  environment  benefiting the Company's operations as
well as the Company's  acquisition of Metro. On a pro forma basis,  assuming the
acquisition  of Metro had  occurred  as of January 1, 1999,  net revenue for the
nine months of 2000 would have increased by approximately 18%.

     Operating  costs and expenses  increased  78% to $280,635 in the first nine
months of 2000 from  $157,945 in the  comparable  1999 period.  The increase was
primarily  attributable  to the  acquisition  of Metro  in  addition  to  higher
affiliate  compensation expense and one-time costs associated with the Company's
coverage of the 2000 Summer Olympics.

     Depreciation and  amortization  increased 213% to $46,957 in the first nine
months of 2000 as  compared  to $15,012 in the first  nine  months of 1999.  The
increase is principally attributable to depreciation and amortization related to
the Metro acquisition.

     Corporate general and  administrative  expenses  increased 84% to $6,104 in
the first nine months of 2000 from $3,321 in the  comparable  1999  period.  The
increase is principally attributable to higher management fees.

     Interest  expense  decreased 15% to $7,612 in the first nine months of 2000
from $8,946 in the comparable 1999 period.  The decrease results from lower debt
levels partially offset by higher interest rates.

     Net income  increased  157% to $24,470  ($.22 per basic  share and $.21 per
diluted  share) in the first  nine  months of 2000 from  $9,511  ($.16 per basic
share and $.14 per diluted share) in the comparable 1999 period.

     Weighted average shares  outstanding for the first nine months of 2000 were
111,397  basic  shares and 117,165  diluted  shares as compared to 59,020  basic
shares and 66,526  diluted shares in the first mine months of 1999. The decrease
in shares was  primarily  attributable  to the issuances of shares in connection
with the  acquisition  of Metro and the  exercise of  outstanding  warrants  and
options,  partially offset by shares  repurchased as part of the Company's stock
repurchase program.


LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

     At September 30, 2000, the Company's cash and cash equivalents were $2,631,
a decrease of $7,995 from December 31, 1999.

     For the  nine  months  ended  September  30,  2000,  net cash  provided  by
operating  activities  was  $127,752  as compared to $28,880 for the nine months
ended September 30, 1999, an increase of $98,872.  The cash flow from operations
was principally  used to fund the Company's stock buy-back program and to reduce
debt.

     At September 30, 2000,  the Company had available  borrowings of $40,000 on
its  revolving  credit  facility.  The  Company has used its  available  cash to
repurchase its Common Stock.  In the nine month period ended September 30, 2000,
the Company repurchased  approximately 3,241 shares of Common Stock at a cost of
approximately  $88,735.  In October 2000, the Company  repurchased an additional
836  shares of Common  Stock at a cost of  $13,942.  The  October  purchase  was
financed principally by bank borrowings.

     The  Company's  Board of Directors  approved an additional  $200,000  share
repurchase  program.  Accordingly,  as of  November  1, 2000,  the  Company  has
authorization to repurchase up to $265,490 of its Common Stock.

     In October 2000, the Company amended its existing revolving credit facility
to permit the  repurchase of Common Stock  provided the  Company's  debt to cash
flow ratio is less than 4.0:1,  to increase the  Company's  capital  expenditure
limitation  and  to  allow  for up to  $150,000  of  additional  debt  on  terms
substantially  similar  to its  existing  facility.  The  Company  is  currently
negotiating to increase its credit facility by $150,000.  The Company expects to
close on its acquisition of SmartRoute Systems in November 2000.


                                       10

<PAGE>

                            PART II OTHER INFORMATION

Items 1 through 5
-----------------

         These items are not applicable.

Item 6 - Exhibits and Reports on Form 8-K
-----------------------------------------

          a)      Exhibits
                  --------
                  27. Financial Data Schedule


         (b)      Reports on Form 8-K
                  -------------------
                  None








                                       11

<PAGE>


                                   SIGNATURES
                                   ----------


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




                                                     WESTWOOD ONE, INC.





                                                     By: /S/Farid Suleman
                                                         ----------------
                                                         FARID SULEMAN
                                                         Chief Financial Officer







                                                     Dated: November 14, 2000




                                       12