Backyard Broadcasting Debuts with Duo in Jackson, MS.Business Editors BALTIMORE--(BUSINESS WIRE)--April 4, 2002 Backyard Broadcasting has entered into an agreement to purchase WTYX and WVIV WVIV Wrong Value used in Variable Initiation (software fault) in Jackson, MS from Proteus Investments. This marks Backyard Broadcasting's entry into radio ownership. Proteus is headed by Mike McRee and is his only broadcast holding. "At a time when media companies are expending huge energy to develop national networks, concentration of programming, and global brands, we are devoted to delivering local content to our listeners and tangible results for our local advertisers," said Barry Drake drake 1. male duck. 2. loliumtemulentum. , Backyard Broadcasting President/CEO "I have always liked the Jackson market and the acquisition of WTYX and WVIV is an outstanding stepping stone for our company's growth." Mr. Drake's thirty years in the business include station management, on air work, programming, local and national sales. He was 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. of the television and radio divisions of Sinclair Broadcast Group The Sinclair Broadcast Group (SBG) NASDAQ: SBGI is the operator of the largest number of local television stations in the United States with a total of 59 stations across the country in 38 primarily small and medium markets, many of which are located in the South and , and President of Keymarket Communications. Backyard Broadcasting's equity partner is Boston Ventures Management, Inc. "It is wonderful to turn over the ownership of these two radio stations to a seasoned leader with a proven track record," said Mike McRee of Proteus Investments. Boston Ventures Management, Inc. is a private equity firm that has been an active investor and financial partner to management teams in the media, entertainment, and communications sectors since 1983, earning the firm a franchise position in the private equity community. Boston Ventures' longstanding commitment to broadcasting has included investments in River City Broadcasting The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. River City Broadcasting L.P. , News Corporation, Metromedia, SJL SJL Suomen Journalistiitto (Finland Journalist Association) Northeast, and Saga Communications Saga Communications is a broadcasting company that owns and operates stations in 26 markets in the United States. The company, which is based in Grosse Pointe Farms, Michigan and trades on the New York Stock Exchange (NYSE: SGA), primarily operates radio stations (its holdings . Boston Ventures' Managing Director/Venture Partner Barry Baker is no stranger to the business. Before joining Boston Ventures, Baker was President/COO of USA Networks, CEO Sinclair Broadcast Group, and Founder/CEO of River City Broadcasting. "I have known Barry Drake for 20 years," Baker said, "he is experienced in every phase of the broadcast industry and has the entrepreneurial skills to add tremendous value. We are committed to radio and excited about the launch and future of Backyard Broadcasting." Frank Higney of Kalil and Company brokered the transaction. |
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