New Vision Group
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Arlington Capital Partners Announces 5th TV Station Acquisition; New Vision Group to Acquire KDLH, the CBS Affiliate in Duluth, Minnesota
WASHINGTON, DC, December 16, 2003 -- Arlington Capital Partners, a Washington, DC based private equity firm, announced the signing of a definitive agreement to acquire KDLH, the CBS affiliate in Duluth, Minnesota by its portfolio company New Vision Group. KDLH represents the fifth television station acquisition for New Vision in the past fifteen months. New Vision was formed to acquire up to ten network affiliated TV stations, with the goal of assembling a strong portfolio of leading, middle market stations. With the acquisition of KDLH, New Vision now owns the NBC affiliate in Santa Barbara, California, the ABC affiliates in Amarillo, Texas and Clovis, New Mexico, the NBC affiliate in Fort Wayne, Indiana, and the CBS affiliate in Duluth, Minnesota.
"The acquisition of KDLH adds another strong station to the New Vision portfolio," said Perry Steiner, Managing Director at Arlington Capital Partners. "With the positive momentum in the advertising economy, we believe now is an opportune time to continue buying television stations. This acquisition is consistent with our strategic plan to build a diversified station group, and we are currently pursuing additional station acquisition opportunities, with similar operating profiles."
"New Vision's acquisition of the CBS affiliate in Duluth represents another important step in building our station group to critical mass. We have now achieved station diversity in our group, with two NBC's, two ABC's, one CBS, and Warner Bros duopolies in all of our markets. KDLH is a highly competitive television station in a very attractive market," said Jason Elkin, Chairman and CEO of New Vision Group.
"We believe that the middle market represents the most attractive area for investment in the television industry. A local market focused TV operator such as New Vision is best positioned to provide top quality local programming and services to its communities, while offering the highest value for local and national advertisers," said Matt Altman, Vice President at Arlington Capital Partners.
About Arlington Capital Partners:
Arlington Capital Partners (www.arlingtoncap.com) is a Washington, DC-based private equity fund with over $450 million of committed capital focused on middle market buyout investment opportunities in growth industries including the business services and outsourcing, aerospace/defense, IT and engineering services, media, education and training, healthcare services, and specialized manufacturing and related industries. The firm's professionals have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company‚s position as leading competitors in their field.
Contact: Perry Steiner
Matt Altman
Arlington Capital Partners
600 New Hampshire Ave., NW
Suite 660
Washington, DC 20037
(202) 337-7500
John Heinen
New Vision Group
3500 Lenox Road
Suite 640
Atlanta, GA 30326
(404) 955-4711
jheinen@newvisiontv.com |
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