New Vision Group
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Arlington Capital Partners Announces 1st Acquisition in Broadcast Group; New Vision Group Acquires KSBY-TV, the NBC Affiliate in Santa Barbara, CA
WASHINGTON, DC, September 19, 2002 -- Arlington Capital Partners, a Washington, DC-based private equity firm focused on the media and communications, business services and outsourcing industries today announced the formation of New Vision Group, LLC, in partnership with management. New Vision was formed to pursue a build-up of network affiliated TV stations, with the goal of assembling a strong portfolio of leading middle market stations. The acquisition of KSBY, the NBC affiliate serving the Santa Barbara, California market, represents the inaugural acquisition for New Vision.
"New Vision possesses the critical elements that we look for when creating an industry platform - a proven executive team operating in a fragmented industry with strong opportunities for growth and consolidation." said Perry Steiner, Managing Director at Arlington Capital Partners. "We believe the fundamentals of TV are strong today. With the advertising economy stabilizing and regulatory and ownership restrictions under review by the FCC, we believe this is an attractive time to enter the broadcast industry in partnership with experienced operators."
In addition to the acquisition of KSBY, New Vision Group has signed a definitive agreement to acquire KVII-TV, the ABC affiliate in the Amarillo, TX market. KVII is the ratings leader in its marketplace with a dominant local news program. New Vision is also pursuing additional station acquisition opportunities, with similar operating profiles.
New Vision Group is led by Chairman and CEO, Jason Elkin and President, John Heinen. Jason Elkin has been a highly successful media executive for over a quarter of a century, having served as Chairman and CEO of New Vision Communications and Chairman and CEO of CTN Media Group, with additional experience at Clear Channel, Taft Broadcasting and Act III Broadcasting. Mr. Elkin's background, which includes all areas of television station management and ownership, has been the basis for an exceptionally successful career directing stations to solid and significant increases in revenue and ratings. John Heinen has over 20 years of experience in the broadcast and advertising industry, with a background that includes the key areas of advertising, marketing, research, programming and station management for broadcast groups on both the local and national levels. In addition to previously serving as the station manager for the NBC affiliate in Atlanta, Georgia, Mr. Heinen has held senior executive management positions for several major television stations and broadcast groups including Gannett Co., Ellis Communications, and RAYCOM Media.
"New Vision's acquisition of the NBC affiliate in Santa Barbara represents the first step in building our station group. KSBY is the dominant television station in a very attractive market, with leading ratings and the number one local news programming," said Mr. Elkin, Chairman and CEO of New Vision Group. "With the KSBY transaction now completed, and our acquisition of KVII scheduled to close in mid-October, we have an excellent start in executing our strategy." continued Elkin.
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.
SOURCE: Arlington Capital Partners
Contact: Perry Steiner
Matt Altman
Arlington Capital Partners
600 New Hampshire Ave., NW
Suite 660
Washington, DC 20037
(202) 337-7500
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