Out of 60 sectors in the Mergr database, media ranked 17 in number of deals in 2003. The largest media acquisition in 2003 was Warner Music Group - which was acquired by Thomas H. Lee Partners for $2.6B.
Join Mergr to view all 39 acquisitions of media companies in 2003, including 25 acquisitions by private equity firms, and 14 by strategics.
501 South Cherry Street,
Denver, Colorado 80246
Cherry Creek Radio (www.cherrycreekradio.com) was formed to build a group of market- dominant radio clusters in small markets in the western U.S. The company operates 36 stations throughout the western U.S. in eleven markets that have shown consistent revenue and profitability growth. The company has closed four add-on acquisitions since the purchase of its initial platform company. This proprietary transaction resulted from CEO Joe Schwartz's relationship with the platform company's executive team and Arlington's relationship with the owner. The company operates the #1 radio cluster in 12 of its 13 markets. The strategy for the company is to continue to consolidate stations in small markets that are highly fragmented and have fewer competitive signals. Cherry Creek will continue to seek acquisitions in both rated and unrated markets in its geographic target. The company currently operates 45 radio stations in California, Arizona, Washington, Montana, North Dakota, Texas, Colorado, New York and Utah. Cherry Creek Radio is led by CEO Joe Schwartz, who has been a career radio executive, having served as President of Bengal Communications I and II, as well as managed multiple markets for Emmis Communications, Saga Communications and CBS.Cherry Creek is headquartered in Denver, Colorado.
Cherry Creek Radio was acquired by Arlington Capital Partners on October 13, 2003.
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