Q: Given a text, write a compressed version of it in a single sentence.
The preferred stock, which would have a dividend rate of $1.76 a year, would be convertible into Heritage common at a rate of four common shares for each preferred. New York - based POP Radio provides, through a national, in - store network, a customized music, information and advertising service which simulates live radio.
A:
Preferred stock would be convertible into Heritage. POP Radio provides, through a national, in - store network, a customized music, information and advertising service which simulates live radio.