New Vision Group
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Arlington Capital Partners Announces 2nd Acquisition for New Vision Group; Acquires KVII-TV, the ABC Affiliate in Amarillo, TX
WASHINGTON, DC, November 5, 2002 -- Arlington Capital Partners, a Washington, DC-based private equity firm focused on the media and communications, business services and outsourcing industries today announced its second TV station acquisition for New Vision Group, LLC. 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. With the acquisition of KVII, New Vision now owns both the ABC affiliate in Amarillo, Texas, and the NBC affiliate in Santa Barbara, California.
"KVII is the ratings leader in its marketplace with a dominant local news program," said Perry Steiner, Managing Director at Arlington Capital Partners. "This acquisition is consistent with our thesis of building a diversified station group, and we will continue to pursue 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 ABC affiliate in Amarillo represents a critical step in building our station group. KVII is the dominant television station in a very attractive market, and is a strong addition to our NBC affiliate in Santa Barbara," said Jason Elkin, Chairman and CEO of New Vision Group. "With this acquisition, we are beginning to build station diversity, adding an ABC affiliate in the Southwest to our NBC affiliate in the west," concluded 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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