Long Point Capital Portfolio

Broadcasting Partners

Business Description

Broadcasting Partners was a group of radio stations in the New York, Chicago, Detroit, Charlotte, and Dallas markets. Broadcasting Partners was formed in partnership with senior industry executives to acquire a group of underperforming radio stations and to capitalize on the regulatory changes and rapid consolidation occurring in the industry

Transaction Overview

MLGA (a predecessor of Long Point Capital) provided growth capital to Broadcasting Partners to allow the Company to purchase an FM station in New York, WYNY-FM, which would provide it critical mass for an IPO.

Post-Transaction

The Company completed its acquisition of WYNY and turned around the operations of the station. Broadcasting Partners completed a successful IPO and continued to grow the group. The Company was sold to a larger public radio company for a combination of cash and stock.

Contact

Ira Starr: 212-593-1800 / istarr@lpcfund.com