Link: With FCC OK, Alpha Media Is Latest Radio Group To Tap Into Foreign Inv
on May 23, 2024, 2:01 pm
(The IRONY of the ALPHA MEDIA logo!)
Z
Employees, advertisers, and listeners are unlikely to notice much of a change. “It's business as usual for us,” Alpha Media CEO Bob Proffitt said Thursday.
BULL! (No pun intended)
In the second step of its financial reorganization, Alpha told the FCC that two groups with foreign sponsors would take sizable equity positions in the company. Alpha says Intermediate Capital Group would own a 39.1% stake. It has ties to the U.K., Cayman Islands, and the British Virgin Islands. Separately, BigSur Capital Partners would hold a 6.3% stake. It has ties to the Bahamas, Netherlands, British Virgin Islands, Cayman Islands, and New Zealand.
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