Border Media Partners (Website) operates about 22 radio stations, all located in Texas. Most of their stations broadcast in Spanish and are located near the border area with Texas or on routes that “visitors” from Mexico would travel. BMP also owns stations in Mexico according to the interview below, which are not covered here.
History
BMP began in 2002 with about $30 million in funding (including $15 million from a private equity fund managed by Goldman Sachs), the Zwirn Investment fund, the Private Equity arm of Franklin Templeton Investments and several other investors. Thomas H. Castro and Rafael G. Garza of RGG Capital Partners founded the company.
In September 2004, BMP acquired an additional $85 million in financing from Vestar Capital Partners. As part of that transaction, former Clear Channel President and COO Kenny O’Keefe joined the Board of Directors.
In June 2007, the company acquired an additional $111 million in financing, and replaced the founders with Jeffrey Hinson, who also serves on the board of TiVo and LiveNation (which used to be part of Clear Channel). Prior to joining BMP, Mr Hinson worked for Univision.
In 2008, Mr Hinson was a vocal critic of Arbitron’s PPM audience measuring system, suggesting that it would hurt minority radio broadcasters. [story]
Jeffrey Hinson was named Outstanding Radio Broadcaster of Year in 2009 by Radio Ink Magazine. [interview here]
In July of 2009, media reports indicate the firm has made no interest payments on their loans in two years, and the lenders are preparing to seize the company and may release Mr. Hinson from his employment.
Major Stations – top 25 markets
BMP operates no stations in the top 25 markets. Their biggest presence is 7 stations in the San Antonia area, which just coincidently is the location of the headquarters of Clear Channel.
Ownership
The company is owned by a combination of equity interests and private equity loans. Since the company has no publicly traded securities, no publicly available information is available. FCC filings just show the holding company, and do not disclose who owns the holding company. [FCC, are you asleep?]
Management
Jeffrey T. Hinson is the President, CEO and Manager of Border Media.
Financial Condition
Since the company is privately held, there is no publicly available information.