Qantum Radio (no “u”) (Website) owns and operates 32 small market radio stations in the Carolinas, George, Alabama and Cape Cod Massachusetts. The company is broken into a number of companies, but the parent corporation is located in Stamford, Connecticut, located a block from a large marina with easy access to Long Island Sound, which is convenient of you wanted to sail a boat to Cape Cod or Hilton Head, South Carolina for a round of golf.
Quantum Radio is primarily owned Frank D Osborn. It was founded in 2002. Funding for the company came from Nautic Partners, LLC, a private equity firm with partication from Bank of America and Opportunity Capital Partners. Nautic was originally the private equity arm of Fleet Bank, which was acquired by First Boston Bank, which was then acquired by Bank of America.
The initial company was formed from the purchase of 26 stations from Root Communications for $82 million. [Root CEO Daniel C. Savadove would go on to form Mainline Broadcasting for Arlington Capital Partners]
In 2003, the company bought 3 stations on Cape Cod from the Makkay group for $32 million.
In 2005, Qantum purchased 4 radio stations on Cape Cod, Massachusetts for $21.3 million. It sold its 3 existing stations to Nassau Broadcasting for $10 million (Nassau was taken over by Goldman Sachs in 2009 when it failed to maintain its credit covenants)
Major Stations – top 25 markets
None of the stations are located in a major market. Other than the cluster on Cape Cape, the remainder are located in the SouthEastern United States in small markets.
For a list of stations owned by Qantum, follow this link.
Mr Osborne controls the votes of about 80% of the company stock.
Frank Osborn graduated from Wharton School of Business in 1973. He went to work in management at NBC at WYNY-FM in New York City. From 1985 to 1997, he was President and CEO of Osborne Communications, an operator of small market radio stations and several related businesses. He then worked for Capstar (before it was swallowed up by Clear Channel) and Aurora Communications, before forming Qantum in 2002.
Since the company is privately owned and it has no publicly traded securities, there is no publicly available information about the company’s finances or profitability.
Since the company bought 3 stations on Cape Cod for $32 million and sold them 2 years later for $10 million, I think we can assume the enterprise has not been very profitable.