Who is Summit Media?

It’s official. Cox Radio of Atlanta sold off a big swath of their stations to an entity called Summit Media in Las Vegas.

Station list

The two principals are Carl Parmer of Las Vegas and David Dubose of Alabama

Radio Ink gives the history the two men had owned radio stations in Alabama and were one of the smaller fish devoured by what would become Clear Channel. Now 15 years later, they’re tanned and ready to pick up the shambles and try again

http://www.radioink.com/article.asp?id=2616638&spid=24698

The sale involved buying 23 stations for $104 million and immediately selling the Cox Connecticut stations for $40 million to a third party.

86% of the company will be owned by a private equity firm (Cox is currently privately owned by the Cox family – it used to be publicly traded). Highpoint Summit is nothing more than a Delaware LLC shell company to hold the title to the licenses

http://www.insideradio.com/Article.asp?id=2617687&spid=32061#.UZV8emt5mK0

The four directors of the LLC are
Jeffrey Austin Brooks, a real estate developer in Birmingham
http://www.bizjournals.com/birmingham/print-edition/2012/05/25/ceo-awards-jeff-brooks-highpoint.html?page=all

Russ Taylor is the president of the company that owns the apartments in Birmingham

http://www.bizjournals.com/birmingham/print-edition/2011/11/18/blue-canoe-acquires-engel-division.html

Patrick Sullivan I can’t find unless it is the RightsFlow.com guy

and Jeffrey D. Brooks possibly another Brooks Brother

OPM – the way to wealth

Good chance Paul Finebaum would wind up here – his 90 day right of first refusal with Cumuls is over April 22nd. I doubt though that stations in Hawaii care about Crimson Tide