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Midwest to aquire Backyard Broadcastings Sioux Falls Cluster (July 2012)
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 KELO-AM/FM, KSQB-FM, KXQL-FM, KRRO-FM, KTWB-FM, and KWSN-AM Sioux Falls, South Dakota, from Backyard Broadcasting LLC to Midwest Communications.
"I am very pleased to see these stations go to Duke Wright and Midwest Communications. Duke and his group have an outstanding reputation and a true love for local radio. Midwest Communications will be a terrific addition to the Sioux Falls community," said Barry Drake, President and CEO of Backyard Broadcasting LLC.
The seller, Backyard Broadcasting LLC is a Jacksonville, Florida-based company that also owns broadcast interests in Indiana, Pennsylvania, and New York.
"We are truly excited to be entering the Sioux Falls, South Dakota radio market with the pending acquisition of the stations operated by Barry Drakes Backyard Broadcasting Group. Sioux Falls is an excellent market and the Backyard stations have provided excellent service to the area for many years. We look forward to continuing the tradition," said Duke Wright, President and CEO of Midwest Communications.
Midwest Communications is a Wisconsin-based company comprised of Midwest Communications, Inc, and WRIG, Inc which collectively owns forty-seven (47) radio stations throughout Wisconsin, Minnesota, Michigan, Illinois, and Indiana.
Kalil & Co., INC was the exclusive Broker for this transaction.
Backyard Broadcasting Market of the Year (February
2012)
For the second consecutive year and third time
in the last 5 years, Backyard Broadcasting in Williamsport, PA has
been awarded Market of the Year. President and CEO Barry Drake
presented the honor to Vice President/Market Manager Dan Farr and
his team during a recent gathering. Following the presentation Farr
said "On behalf of the entire team at Backyard Broadcasting
Williamsport I am happy to accept the Market of the Year award. To
be awarded this honor two years in a row takes a dedicated team of
professional broadcasters that I am honored to be a part of." Drake
said of the Williamsport team “It is exciting to see the growth of
the Williamsport market and our group of stations. This team shows a
tremendous commitment to making a difference in the community.”
Backyard Broadcasting Williamsport is home to WLMY-MY 107.9,
WILQ-Country 105, WBZD-Oldiez 93, Talk Radio 1340-WWPA and WZXR-The
home of Rock & Roll.
WWJK & WRXW Sold to EMF
(November 2011)
Backyard Broadcasting first entered
into Jackson, Mississippi (Market 122) in July of 2002. Backyard
Broadcasting has since been operating WWJK, a 100,000 watt FM at
over 1,100 feet. Additionally, they have been operating WRXW 93.9
with a rock format. A new page now turns a familiar verse where
Backyard Broadcasting has agreed to sell both FM stations to
Educational Media Foundation (K-Love). Barry Drake, president of
Backyard, states, “While Backyard will miss being in Jackson, we are
pleased to see these stations go to the quality broadcasters of
Educational Media Foundation.” Other major group owners in this
market include Inner City Broadcasting and Clear Channel.
Broker for the deal: John Pierce & Company.
Williamsport Is Backyard Market of the Year (February 2011)
For the second time Williamsport has been named the Backyard
Broadcasting Market of the Year for 2010. The market last won the
award for 2007.
In presenting the staff and management with their
award at a meeting of all personnel, Barry Drake, Backyard
Broadcasting President and CEO praised the team for their terrific
efforts and outstanding results. “Surpassing the company’s financial
targets is one measurement of achievement. Beyond that this group
has delivered improved ratings and truly serves its market with
innovative promotions, community projects, and local news and
information,” Drake said.
Accepting the award was Dan Farr,
Vice President and Market Manager who said, “It is a pleasure
working with people as talented and dedicated as we have here in the
Williamsport market. They are energetic, enthusiastic and have fun
working together.”
The Backyard Broadcasting Williamsport
line up consists of WILQ-Country 105, WZXR-the Home of Rock and
Roll, WBZD-Oldiez 93, Talk Radio 1340-WWPA and WLMY-MY 107.9 adult
contemporary.
Backyard Broadcasting Sells
KSQB-AM to CUP O' DIRT (February 2010)
Cup O’Dirt
buys a radio station in their backyard. John and Heidi Small of
Brandon and their Cup O’Dirt LLC have agreed, subject to FCC
approval, to purchase Backyard Broadcasting’s KSQB-AM 1520 Sioux
Falls. Barry Drake, President and CEO of Backyard Broadcasting,
commented, "We are very happy to see this station go to dedicated
local broadcasters.” John Small said, “I am excited about the many
things we will be able to do to give back to our community in
Brandon.”
The name "Cup O' Dirt" comes from a routine by
Brian Regan, John and Heidi's favorite comedian.
Backyard Broadcasting Sells WURK to EMF (October 2009)
K-Love (Educational Media Foundation) buys a station in their
backyard. After the purchase of WKLU in Indianapolis, IN last month,
Barry Drake’s Backyard Broadcasting agrees to sell WURK 101.7 FM.
WURK is licensed to Elwood, IN serving Muncie and Anderson, IN
markets. The station was sold for $750,000.00.
Barry Drake,
President and CEO of Backyard Broadcasting, commented, "Since
improving the signal and broadening the coverage area of simulcast
sister WERK, Backyard Broadcasting has been exploring options for
the future of WURK. We are pleased to see this station go to the
respected quality broadcasters of EMF."
Broker for the deal:
John L. Pierce of John Pierce & Company LLC.
Backyard Broadcasting to Purchase 3 Station Cluster from Feller
Broadcasting (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 has entered into an agreement to purchase WTYX and WVIV
in Jackson, MS from Proteus Investments. This marks Backyard
Broadcasting’s entry into radio ownership. Proteus is headed by Mike
McRee and this is his only broadcast holding.
Barry Drake,
Backyard Broadcasting President/CEO said, “at a time when media
companies are expending huge energy to develop national networks,
concentration of programming, and global brands, we are devoted to
delivering local content to our listeners and tangible results for
our local advertisers. I have always liked the Jackson market and
WTYX and WVIV present us with an outstanding opportunity to get our
company off the ground.” Drake’s thirty years in the business
include station management, on air work, programming, local and
national sales. He was CEO of the television and radio divisions of
Sinclair Broadcast Group, and President of Keymarket Communications.
“It is wonderful to turn over the ownership of these two radio
stations to a seasoned leader with a proven track record,” said Mike
McRee of Proteus Investments.
Backyard Broadcasting’s equity
partner is Boston Ventures Management, Inc. 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’ longstanding commitment to broadcasting
has included investments in River City Broadcasting, News
Corporation, Metromedia, SJL Northeast, and Saga Communications.
Boston Ventures’ Managing Director/Venture Partner Barry Baker
is no stranger to the business. Before joining Boston Ventures,
Baker was President/COO of USA Networks, CEO Sinclair Broadcast
Group, and Founder/CEO of River City Broadcasting. “I have known
Barry Drake for 20 years,” Baker said, “he is experienced in every
phase of the broadcast industry and has the entrepreneurial skills
to add tremendous value. We are committed to radio and excited about
the launch and future of Backyard Broadcasting.”
Frank Higney
of Kalil and Company brokered the transaction.
Backyard
Broadcasting is based in Jacksonville, FL.
For more information
904-674-0260.