NextMedia Radio

NextMedia (NM)  (Website)owns about 5,000 billboards, and operates 8 AM and 28 FM radio stations, mostly in Wisconsin, Michigan, downstate Illinois and North and South Carolina.  NextMedia is privately held, and located in Greenwood Village, Colorado.

History

The company was founded in 1999

Ownership

The ownership of this company is a bit…. vague.   The FCC report was submitted by Alta Communications, a private equity firm in Boston, and only states that various individuals and entities have ownership in various of Alta’s stations, without indicating which investors own which stations.

Alta’s web site describes NextMedia as “NextMedia Group, Inc. was formed in late 1999 by Steve Dinetz and Carl Hirsch to become a premier consolidator of U.S. radio and outdoor assets. In addition to Alta, the investor group includes Tailwind Capital, Weston Presidio, and Goldman Sachs Capital Partners.”

Tailwind Capital is another Private Equity firm (in New York City) full of middle aged white men with Harvard MBAs

Weston Presidio is a Boston based Private Equity Firm full of middle aged white men with Harvard MBAs.

Steve Dinetz was the President and CEO of Capstar, which was acquired ultimately by Clear Channel.    The above description does not imply that Dinetz and Hirsh are still associated with the company.

In 2006,  Jeff Dinetz became the COO.   Jeff had previously worked   for Connoisseur Media and Emmis Broadcasting.  That’s the last press release on the web site.

The company held conference calls up through 2005, and about $200 million in bonds were repurchased in late 2005, organized by Goldman Sachs.  Other than that, information on the company finances is very vague.

The company filed Chapter 11 bankruptcy on December 21st, 2009.

Leave a Reply