New Northwest

New Northwest (Website) is a Radio company that operates in the Pacific Northwest (Oregon, Washington, and Alaska).  They own and operate 11 AM and 25 FM Stations.  New Northwest is headquartered in Seattle, Washington.

History

New Northwest was formed in 1998 by Michael O’Shea, a long time veteran of the radio business.  He left NNB to form All Comedy Radio, and at last report was running a cluster of stations for Saga in Washington State.  Peter Benedetti was hired in 2002 to “bring new energy and structure” to the company.  He left in 2009 (along with 5 of NNB’s stations) to start his own company in Billings Montana.   The former CFO of the company is now running the company.

Major Stations – top 25 markets

None of New Northwest’s stations are anywhere near a major market.  For a complete list of stations they own, click [Here].

Ownership

New Northwest is about 70% owned by Northwest Capital Appreciation, a private equity firm that shares the address of the company in Seattle, however for some odd reason the radio company is not listed in their portfolio online.   There are several minority owners including Donald Tisdel, Walter Maas III and James Wagar.

Mr Tisdel owns about 11%, and he is a Senior Operating Partner of the private equity Firm.  Prior to 1992, he was President and CEO of Far West Mutual Bank, a Savings and Loan that was acquired by Washington Mutual (WaMu) in 1994.

Mr Maas (2.8%) is a tax attorney.

Mr Wagar was involved at one time with Northwest Capital Appreciation.

Management

The CEO of New Northwest is Trila Bumstead.  She joined the company as CFO in 1999 and became CEO in April 2009.  She replaced Peter Benedetti, who had been President and CEO since 2002.  Peter left NNB to form a 5 station group in Billings, Montana, buying the stations from NNB.

Financial Condition

Since the company is privately held, there is no publicly available information about the company.

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