Barker Capital Launches New Fund to Purchase Seller Notes in Media Companies.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 11, 2003 Barker Capital, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Barker Capital") announces the formation of a new private capital fund to purchase seller notes held by the former owners of media assets. The BC Liquidity Fund I ("BC Liquidity Fund") has initial commitments of $35 million. The fund is focused primarily on the radio and television sectors, and may also include other media sectors including publishing and outdoor advertising. "Seller financing Seller financing Funding a purchase by a seller's loan to the buyer, the buyer takes full title to the property when the loan is fully repaid. has always played a significant role in many of the ownership changes of small capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. broadcasters and other media companies," said Jacob Barker Jacob Barker (1779-1871) was an American financier and lawyer, born in Swan Island, Me., of Quaker parentage. He went to New York at the age of 16, engaged in trade, and soon amassed a considerable fortune. Beginning in 1811, Fitz-Greene Halleck was employed by him for twenty years. , founder and managing partner of Barker Capital. "Many of these seller notes arise from the dearth of senior financing available for transactions smaller than $15 million and deprive de·prive v. 1. To take something from someone or something. 2. To keep from possessing or enjoying something. an owner of the benefits of diversification that would come with an all cash sale." The BC Liquidity Fund enables holders of seller paper to exchange their notes for cash. This is the first of several merchant banking initiatives to be launched by Barker Capital in 2003 and the first fund of its kind to focus on seller notes. Barker Capital LLC is a media specialist investment bank focused on companies and transactions with valuations less than $100 million. The firm leverages the experience of its founder, Jacob J. Barker, who spent ten years covering media companies as a research analyst at Toronto Dominion Securities, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Securities and Fidelity Management & Research. Since it's founding in 2002, Barker Capital has advised on over $100 million of transactions including a $20 million recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. for On Top Communications (radio). Barker Capital distinguishes itself as a knowledge based institution by hosting conferences and publishing industry white papers. The first of these efforts, Television 2002: A Conference for Owners and Investors drew 50 participants from the private equity, broadcasting, and money management community. For more information please contact (212) 289-2165. |
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