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The end may be nearer than you think for Merlin Media.
Sccording to Robert Feder at timeoutchicago.com, GTCR, the
private equity firm that partnered with CEO Randy Michaels to form the company
in July 2011, is actively seeking buyers for all of Merlin Media’s properties
in Chicagom NYC and Philly. Moelis & Company, which worked closely with
GTCR in acquiring the stations, is handling the sale.
While Michaels is still involved with Merlin Media,
day-to-day business is being run by chief financial officer Jerry Kersting.
“Everything is in kind of a holding pattern to try to show cash flow so they
can get the most out of it,” one insider tells Feder.
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