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Arlington Capital Partners Portfolio Company Main Line Broadcasting Announces Acquisition of Radio Station Clusters in Louisville, KY and Dayton, OH from Radio One
WASHINGTON, DC, May 17, 2007 – Arlington Capital Partners, a Washington, DC-based private equity firm, announced today its portfolio company Main Line Broadcasting has executed a definitive agreement to acquire 10 radio stations from Radio One Inc. in the Louisville, Kentucky and Dayton, Ohio markets.
“With this acquisition, Main Line has added two additional top 50 markets, and established itself as one of the pre-eminent radio companies in the middle market,” said Perry Steiner, Partner at Arlington Capital Partners. “We believe the fundamentals of radio are strong, and that we have an opportunity to build a group of station clusters in highly attractive markets.”
“This transaction serves as a cornerstone in the establishment of Main Line Broadcasting, and we look forward to serving the listeners and advertisers in both markets,” said Dan Savadove, CEO of Main Line Broadcasting. “The strength of the stations and formats, and the high quality of the station personnel were the major attractions of the deal.”
Main Line was formed two years ago to pursue a consolidation of middle market radio station clusters in attractive growth markets. This transaction represents Main Line’s third acquisition and is a complimentary addition to Main Line’s existing radio clusters in Richmond, Virginia, and Hagerstown, Maryland.
“We are very pleased to be adding this group of leading stations and attractive markets to Main Line,” said Matt Altman, Principal at Arlington Capital Partners. “Main Line is well positioned to build upon its rapid growth to date as a premier middle market radio company.”
The transaction is expected to close in the fourth quarter of 2007 pending regulatory approval.
About Arlington Capital Partners
Arlington Capital Partners (www.arlingtoncap.com) is a Washington, DC-based private equity fund with over $1 billion of committed capital focused on middle market buyout investment opportunities in growth industries including: media, healthcare services, business services, education, and aerospace/defense. The firm’s professionals have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field.
SOURCE: Arlington Capital Partners |
