Three Eagles

Three Eagles  (Website) is a privately owned company that owns and operates about 53 radio stations in small markets in the Midwestern United States.   The company is located in Lincoln Nebraska.

History

Rolland C. Johnson formed Three Eagles in 1994 to acquire small and medium market radio stations in the Midwest.   He acquired his first station in 1996 as the deregulation of FCC licenses begain. In 2002, Wachovia (now part of Wells Fargo) led a recapitalization of the company.

Since the company is owned by Private Equity firms, there is no public information available about its finances.  The 2002 takeover was for $71 million.  According to the press release, the funding was provided by Wells Fargo, GE Capital, First National Bank of Omaha and US Bank.

The most recent acquisitions occured in 2007.when the company acquired 4 stations from Clear Channel for $14.5 million.

Major Stations

This company has no stations in a major market.  The largest market where it owns a station is Fort Dodge Iowa.

For a list of the stations controlled by Three Eagles, use [this link].

Ownership

According the FCC filings,  Mr Johnson owns about 10% of Three Eagles, and 25% of the voting control.  The remainder of the Ownership is with Wachovia Capital Partners and Primus Capital Fund.

Management

There is very little information on the web site.  Presumably Mr Johnson runs the company, and that’s all we need to know.

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