NextMedia Group was an out-of-home media company headquartered in Greenwood Village, Colorado. NextMedia owned and operated 33 AM and FM stations, 5,700 outdoor advertising display across several regions and markets, as well as an interactive division.
| Company type | Private |
|---|---|
| Industry | Media |
| Founded | 1999 |
| Defunct | 2014 |
| Fate | Sold to Digity, LLC |
| Headquarters | Greenwood Village, Colorado |
| Products |
|
NextMedia Group was established in 1999, and began acquiring stations a year later, notably from Pinnacle Broadcasting.
The company failed to offer shares to investors in 2003, and stopped reporting its quarterly financial reports to the Securities and Exchange Commission during the third quarter of 2003, at which time it reported a long term debt obligation of some $300 million; $200 million of long term debt was refinanced in 2006.
On January 1, 2004, NextMedia acquired outdoor displays in the Myrtle Beach, SC region from Clear Channel Outdoor in an asset exchange. [1] [2]
In July 2004, NextMedia Group purchased the Wilmington, NC stations WRQR, WAZO, and WMFD from Ocean Broadcasting, and WKXB and WSFM from Sea-Comm Inc.
Co-founder of the Company, Carl Hirsch, left in 2007 to become a founding partner of GoodRadio LLC based in West Palm Beach, FL. NextMedia Group was then owned by several private equity firms.
In 2008, NextMedia Group announced to sell Wilmington, NC stations to Capitol Broadcasting Company.
NextMedia Group filed for Chapter 11 bankruptcy protection on December 21, 2009, which transfers 95% of equity in the company to second-lien holders. [3]
On May 27, 2010, NextMedia emerged from Chapter 11 bankruptcy protection. [4]
In late 2012, NextMedia sold its outdoor advertising assets to Lamar Advertising Company, to focus on the core radio business. [5]
On October 10, 2013, NextMedia Group announced all 33 of their radio stations, and presumably NextMedia 360, had been sold to Dean Goodman's Digity, LLC. The transaction was consummated on February 10, 2014, at a purchase price of $85 million. [6]
Stations are listed by state and market below. Station self-designated titles are denoted in quotations where applicable followed by actual cities of license and format in parentheses followed by frequency and effective radiated power. For AM stations, both daytime and nighttime power are listed.
San Jose
Aurora
Joliet
Waukegan
Saginaw
New Bern
Jacksonville
Kinston
Southport
Wilmington
Washington
Canton
Myrtle Beach
Sherman/Denison
Kenosha
NextMedia owns and operates coupon and deals websites Rocketgrab.com (serving their radio markets) and CouponCrab.com (serving the Myrtle Beach, SC area) created by the interactive arm NextMedia 360.
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