New Vision Group
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Arlington Capital Partners Announces Acquisition for New Vision Group; Acquires WKJG, the NBC Affiliate in Fort Wayne, Indiana
WASHINGTON, DC, January 16, 2003 -- Arlington Capital Partners, a Washington, DC based private equity firm, announced the acquisition of WKJG, the NBC affiliate in Fort Wayne, Indiana by its portfolio company New Vision Group. WKJG represents the third television station acquisition for New Vision in the past four 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 WKJG, New Vision now owns the NBC affiliate in Santa Barbara, California, the ABC affiliates in Amarillo, Texas and Clovis, New Mexico, and the NBC affiliate in Fort Wayne, Indiana.
“The acquisition of WKJG 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, taken together with the new approach to media ownership under consideration at the FCC, we believe now is an opportune time to be buying television stations. This acquisition is consistent with our strategic plan to build a diversified station group, and we will continue to pursue additional station acquisition opportunities, with similar operating profiles.”
“New Vision’s acquisition of the NBC affiliate in Fort Wayne represents another important step in building our station group to critical mass. WKJG is a highly competitive television station in a very attractive market,” said Jason Elkin, Chairman and CEO of New Vision Group. “With this acquisition, we are continuing to build station diversity, adding an NBC affiliate in the Midwest to our NBC affiliate in the West and two ABC affiliates in the Southwest,” concluded Elkin.
The principals of New Vision Group, led by Chairman and CEO, Jason Elkin and President, John Heinen, bring substantial operating experience to the company. Jason Elkin has been a highly successful media executive for over a quarter of a century, having served as Chairman and CEO of the first New Vision Television, a group of eight network affiliated stations, 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., the first New Vision Television, Ellis Communications, and RAYCOM Media.
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
John Heinen
New Vision Group
3455 Peachtree Rd., NE
Suite 711
Atlanta, GA 30326
(404) 955-4711
jheinen@bellsouth.net
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