Plus Pages

Wednesday, September 26, 2012

Merlin Media Stations May Be For Sale

UPDATE 8/27:  Merlin CEO Randy Michaels has told Radio Ink simply that "Merlin Media is not for sale."


Original Posting...

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.

No comments:

Post a Comment