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BACKYARD BROADCASTING TO PURCHASE 3 STATION CLUSTER FROM FELLER BROADCASTING (APRIL 2006)
April 2006: Sioux Falls, SD; Baltimore,MD. This is to announce that a contract has been signed and an application is being filed with the FCC for the transfer of radio stations KWSF-FM (Flandreau), KSQB-FM (Dell Rapids) and KSQB-AM (Sioux Falls), all serving the Sioux Falls, South Dakota market, from Feller Broadcasting, LLC to Backyard Broadcasting South Dakota, LLC.
The Seller, Feller Broadcasting, is a Sioux Falls, South Dakota-based company, principally owned by Rob Feller. Feller Broadcasting has no other broadcast interests. The Buyer, Backyard Broadcasting, owns twenty-seven other radio stations in Mississippi, New York, Pennsylvania, Indiana and South Dakota. Backyard Broadcasting’s principle equity investors are Boston Ventures Management, Inc. and PCG Corporate Partners Fund. KWSF-FM operates at 107.9 MHz, with 21 kW at 758 FT. HAAT. KSQB-FM operates at 95.7 MHz, with 25 kW at 334 FT. HAAT. KSQB-AM operates at 1520 kHZ, with 500 watts day. KALIL & CO., INC. represented the Buyer in this transaction GREG GUY OF PATRICK COMMUNICATIONS, LLC represented the Seller in this transaction. BACKYARD BROADCASTING ACQUIRES 5-STATION CLUSTER FROM MIDCONTINENT (September 2004)
September 22, 2004: Sioux Falls, SD; Baltimore, MD. Midcontinent Media, Inc. and Backyard Broadcasting announced today that Backyard Broadcasting will purchase the assets of Midcontinent’s five radio stations located in Sioux Falls, SD. The radio stations are KELO-AM, KELO-FM, KRRO-FM, KTWB-FM and KWSN-AM. The transaction is subject to customary FCC approval. Upon completion of this transaction, Backyard will own and operate 27 stations in 6 markets. Backyard Broadcasting’s principle equity investors are Boston Ventures Management, Inc. and PCG Corporate Partners Fund.
Midcontinent Media, Inc. Chairman, Larry Bentson, said, “This sale to Backyard Broadcasting will encourage the continued growth of our stations and staff as part of an exciting national organization dedicated to radio broadcasting. We are pleased that they share our tradition of excellence in broadcasting and community service. We wish them every success.” Backyard’s President and CEO, Barry Drake, is enthusiastic about the transaction. “We are thrilled to be entering Sioux Falls, the great growth market of the Midwest. The Midcontinent stations are the market’s finest technical facilities and heritage radio stations with an outstanding record of community service.” Drake added, “Backyard Broadcasting is committed to continuing the fine tradition of radio broadcasting that Midcontinent has established over the past 50 years.” Backyard's existing equity investors both provided financing for the Midcontinent acquisition. Boston Ventures’ Operational Partner, Barry Baker, said, “We are extremely supportive of this acquisition. Midcontinent’s assets are a perfect fit in the Backyard portfolio.” Pacific Corporate Group CEO, Christopher Bower, added, "PCG is excited to have this opportunity to continue to finance Backyard Broadcasting's acquisition program." The transaction was initiated by Kalil and Company, a Tucson, AZ, based broker. About Boston Ventures: Boston Ventures Management, Inc. (www.bostonventures.com) is a private equity firm that has been an active investor and financial partner to management teams in the media, entertainment, and communications sectors since 1983, earning the firm a franchise position in the private equity community. Boston Ventures' partners and principals are accomplished and experienced professionals who have a diverse and complementary range of skills and a broad network of domestic and international relationships. The existing Boston Ventures Fund VI Partnership has attracted leading U.S. institutions and individuals from 16 countries. Boston Ventures’ longstanding commitment to broadcasting has included investments in River City Broadcasting, News Corporation, Metromedia, Sinclair Broadcasting Group, Saga Communications, Television Station Group Holdings and Backyard Broadcasting. About PCG: PCG Corporate Partners Fund (www.pcgfunds.com) is focused on providing private equity growth capital to established private and publicly traded companies. PCG specializes in developing customized non-control private equity solutions tailored to a company’s growth initiatives. The firm has a history of successful media investments, including investments in Comcast and Mediacom. Since 1993 PCG has made over $900 million of private equity growth capital investments in transactions across a wide range of industries. For More Information Contact: Mr. Barry Drake President and CEO Backyard Broadcasting (410) 580-5888 Mr. W. Tom Simmons Vice President – Public Policy Midcontinent Communications (605) 357-5491 PACIFIC CORPORATE GROUP COMMITS UP TO $20 MILLION TO BACKYARD BROADCASTING (January 2004)
Baltimore, Maryland: Backyard Broadcasting announced today that PCG Corporate Partners Fund ("PCG"), invested $10 million of new equity into the Company and committed to invest an additional $10 million. The new equity capital will better position the Company for anticipated growth through future acquisitions. Currently, Backyard owns and operates twenty-two stations in five radio markets (markets 50+).
"We are excited about having PCG as a partner. PCG has a history of successful media investments and is an ideal complement to our existing partner, Boston Ventures. This investment will provide Backyard with additional capital to expand our existing platform of radio stations by opportunistically pursuing acquisitions in our target markets," said Backyard CEO, Barry Drake. Chris Bower, Chief Executive Officer of PCG, said, "We are pleased to be partnering with Backyard to capitalize on the opportunity to build a leading small market radio platform. Barry Drake and Robin Smith have an extensive track record of success in building and operating radio businesses. We believe that we are investing in the leading management team in the small market radio sector. This investment is an opportunity to back experienced and seasoned operators in an attractive, growth industry." Boston Ventures’ Operational Partner, Barry Baker, said, "we continue to be enthusiastic about radio and the growth potential of Backyard Broadcasting and believe that partnering with PCG will enhance our ability to capitalize on this opportunity." Backyard Broadcasting was formed in July 2002 to pursue the opportunity for consolidation in target radio markets. The company was formed as a partnership between Barry Drake, former CEO/Radio and TV of Sinclair Broadcast Group, and Boston Ventures, a leading investor in the radio broadcast industry. Since its inception Backyard has acquired twenty-two stations in five radio markets: Jackson, MS; Williamsport, PA; Elmira, NY; Olean, NY; and Muncie, IN. PCG Corporate Partners Fund is focused on providing private equity growth capital to established private and publicly traded middle market companies. PCG specializes in developing customized non-control private equity solutions tailored to a company’s growth initiatives. The firm has a history of successful media investments, including investments in Comcast and Mediacom. Since 1993 PCG has made over $870 million of private equity growth capital investments in transactions across a wide range of industries. For More Information Contact: Monte Brem Managing Director PCG Corporate Partners Fund (858) 456-6000 Robin Smith Chief Financial Officer Backyard Broadcasting (410) 580-5888 Backyard Broadcasting Debuts (April 2002)
Backyard Broadcasting Holdings LLC debuted in Jackson, MS with the purchase of WVIV and WTYX. The stations were acquired from Holt Communications Inc. WVIV 93.9Mhz (now WRXW) is licensed to Brandon, MS with an effective radiated power of 25, 000 Watts. WTYX 94.7Mhz (now WWJK) is licensed to Jackson, MS with an effective radiated power of 100, 000 Watts.
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