Arlington Capital Partners Announces 1st Acquisition in Broadcast Group; New Vision Group Acquires KSBY-TV, the NBC Affiliate in Santa Barbara, CA.Business Editors WASHINGTON--(BUSINESS WIRE)--Sept. 19, 2002 Arlington Capital Partners, a Washington, DC-based private equity firm focused on the media and communications, business services and outsourcing industries today announced the formation of New Vision Group, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , in partnership with management. New Vision was formed to pursue a build-up of network affiliated TV stations, with the goal of assembling a strong portfolio of leading middle market stations. The acquisition of KSBY, the NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. affiliate serving the Santa Barbara, California Santa Barbara is a city in California, United States. It is the county seat of Santa Barbara County, California. As of the 2000 census, the city had a total population of 92,325. market, represents the inaugural acquisition for New Vision. "New Vision possesses the critical elements that we look for when creating an industry platform - a proven executive team operating in a fragmented industry with strong opportunities for growth and consolidation," said Perry Steiner, Managing Director at Arlington Capital Partners. "We believe the fundamentals of TV are strong today. With the advertising economy stabilizing and regulatory and ownership restrictions under review by the FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. , we believe this is an attractive time to enter the broadcast industry in partnership with experienced operators." In addition to the acquisition of KSBY, New Vision Group has signed a definitive agreement to acquire KVII-TV, the ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. affiliate in the Amarillo, TX market. KVII is the ratings leader in its marketplace with a dominant local news program. New Vision is also pursuing additional station acquisition opportunities, with similar operating profiles. New Vision Group is led by Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Jason Elkin and President, John Heinen. Jason Elkin has been a highly successful media executive for over a quarter of a century, having served as Chairman and CEO of New Vision Communications Vision Communications is the name of two unrelated broadcasting companies: .
abbr. cotangent Media Group, with additional experience at Clear Channel, Taft Broadcasting The Taft Broadcasting Company, also known as Taft Television and Radio Company, Incorporated, was a media conglomerate based in Cincinnati, Ohio. It has its roots in the family of William Howard Taft, the 27th President of the United States, whose nephew, Hulbert and Act III Broadcasting Act III Broadcasting was a company that owned several television stations that started as independents, and later became Fox affiliates. The stations were located in medium-sized markets, and the company existed from the mid 1980s to the mid 1990s, eventually to be sold to Abry in . Mr. Elkin's background, which includes all areas of television station management and ownership, has been the basis for an exceptionally successful career directing stations to solid and significant increases in revenue and ratings. John Heinen has over 20 years of experience in the broadcast and advertising industry, with a background that includes the key areas of advertising, marketing, research, programming and station management for broadcast groups on both the local and national levels. In addition to previously serving as the station manager for the NBC affiliate in Atlanta, Georgia, Mr. Heinen has held senior executive management positions for several major television stations and broadcast groups including Gannett Co., Ellis Communications, and RAYCOM Media Raycom Media is a broadcasting company based in Montgomery, Alabama. History Although Raycom dates its birth to 1996, the core of the company was formed in 1992 when Atlanta native Bert Ellis formed Ellis Communications. . "New Vision's acquisition of the NBC affiliate in Santa Barbara represents the first step in building our station group. KSBY is the dominant television station in a very attractive market, with leading ratings and the number one local news programming," said Mr. Elkin, Chairman and CEO of New Vision Group. "With the KSBY transaction now completed, and our acquisition of KVII scheduled to close in mid-October, we have an excellent start in executing our strategy," continued Elkin. About Arlington Capital Partners: Arlington Capital Partners (www.arlingtoncap.com) is a Washington, DC-based private equity fund with over $450 million of committed capital focused on middle market management buyout Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. and later stage expansion equity investment opportunities in growth industries including: media and communications, business services, outsourcing, IT services, and related information products and services industries. The firm's principals have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies that have high quality management teams and who are motivated to establish and/or advance their company's position as leading competitors in their field. Arlington's substantial operating experience resides with two of the firm's founders, each of whom have distinguished careers leading Fortune 500 companies to success: Ray Smith, former Chairman and CEO of Bell Atlantic (now Verizon), and Paul Stern, former Chairman and CEO of Northern Telecom (now Nortel Networks). The firm's principals also have significant private equity experience completing over 90 transactions for aggregate consideration of nearly $13 billion over the past fifteen years. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion