NextMedia Group

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NextMedia Group was an out-of-home media company headquartered in Greenwood Village, Colorado. NextMedia owns and operates 33 AM and FM stations, 5,700 outdoor advertising display across several regions and markets, as well as an interactive division.

Contents

NextMedia Group
Type Private
Industry Media
Founded1999;24 years ago (1999)
Defunct2014;9 years ago (2014)
FateSold to Digity, LLC
Headquarters Greenwood Village, Colorado
Products

History

The company first started as Pinnacle Broadcasting. In 1999 it was announced that it would be rebranded as NextMedia Group.

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.

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 dollars; 200 million dollars of long term debt was refinanced in 2006. 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.

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 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]

Former radio stations

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.

California

San Jose

Illinois

Aurora

Joliet

Waukegan

Michigan

Saginaw

North Carolina

New Bern

Jacksonville

Kinston

Southport

Wilmington

Washington

Ohio

Canton

South Carolina

Myrtle Beach

Texas

Sherman/Denison

Wisconsin

Kenosha

Websites

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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References

  1. ↑ "200410-K.PDF" (PDF). 2005-12-08. Archived from the original (PDF) on 2005-12-08. Retrieved 2023-04-18.
  2. ↑ "NextMedia2Q04EarningsFinal.PDF" (PDF). 2005-03-27. Archived from the original (PDF) on 2005-03-27. Retrieved 2023-04-18.
  3. ↑ "Radio station owner NextMedia files for bankruptcy - Yahoo! News". Archived from the original on 2009-12-27.
  4. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2012-03-22. Retrieved 2010-06-01.{{cite web}}: CS1 maint: archived copy as title (link)
  5. ↑ "MediaPost Publications Lamar Acquires NextMedia Outdoor 11/26/2012". 2012-11-28. Archived from the original on 2012-11-28. Retrieved 2023-04-18.
  6. ↑ "NextMedia Group Sold To Digity". All Access. 20 October 2013. Retrieved 18 April 2014.
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