Armada Media

Armada Media  (Website) is the owner and operator of about 27 radio stations in the Midwest, all of them in small unrated markets.  Armada is headquartered in Fond du Lac, Wisconsin.

History

Armada Media was founded in 2006 by former Wisconsin Governor Tommy Thompson in order to acquire and operate clusters of stations.   In 2006, Aramada acquired 6  stations in Aberdeen, South Dakota for $9.25 million   In 2007, the company acquired High Plains Radio of McCook, Nebraska.

The stations are organized in three groups

  • Bay Cities Radio  (Fond du Lac, Menominee MI, Ortonville, MN)
  • Hub City Radio  (Aberdeen, SD)
  • High Plains Radio   (Nebraska, Colorado, Kansas)

Major Stations – top 25 markets

Armada owns no major market stations.

Ownership

Armada Media is a privately held corporation, with no individual holding a controlling interest.  According to FCC filings:

  • Chistopher Bernier (CEO) – 20%
  • John Larson – 9%  (Minnesota M&A Lawyer)
  • Robert Bourke – 20% (Chicago VC and M&A guy)
  • Tommy Thompson – 5%  (former governor of Wisconsin)
  • John Lynch – 1%   (owns 3 stations in San Diego)
  • Shockley Broadcasting – 12%
  • AMC partners – 4%
  • Long Term Partners – 8%
  • Jim Coursolle – 20% (Former chairman until March 2008 – left to go into the coffee business in Chicago)

Based on the list of documents in the FCC owership statement, Wells Fargo appears to be the owner of the company’s debt.

Management

Terry Shockley is the President – he is a veteran of TV and Radio in Wisconsin, starting his career in 1960.

Chris Bernier is the CEO – he owned several stations in the Fond du Lac area which are now part of Aramada.

Financial Condition

Because the company is privately held and has no publicly traded securities, there is no publicly available information about the company finances or profitability.

In January 2010, the lenders have started court proceedings to have a receiver appointed to run the company to protect the interests of the lenders.

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