Talk about a Sunday snatch: Gen Media Partners (GMP), the largest independently owned national radio representation company in the U.S., has acquired national advertising entities Regional Reps and The Tacher Company.
The deal’s reveal was made Dec. 9 by CEO Kevin Garrity. Financial terms were not disclosed by GMP.
The newly acquired companies will continue to operate on behalf of the radio stations they represent. That said, Gen Media Partners’ combined roster of 4,000 radio station partners “will create more opportunities for national advertisers, particularly when they are looking for scale in radio,” GMP said.
“With the addition of these two heritage firms, we strengthen our voice on the national level for the independent broadcasters we represent,” Garrity noted. “With the increased scale and reach, we can develop more national opportunities and generate more agency business for our independent radio partners, while we continue to provide the exceptional service and support that are our hallmark.”
Known for its personalized representation of independent broadcasters, with a specialization in Hispanic radio, the acquisitions come on the heels of Gen Media Partners’ recent purchase of Sun Broadcast Group.
The acquisition results in the departure of Regional Reps Chairman Stuart Sharpe. He commented, “Building on the foundation created more than six decades ago by founder Leonard Auerbach and his colleagues Don Hays and Jack DeHaven, today’s Regional Reps team continues aggressive, in-person selling on behalf of its radio stations and high-quality service to advertising agencies and their clients. Combining Regional Reps’ sales and service capabilities in medium and smaller radio markets with Gen Media Partners’ resources and strength in larger markets will provide more stations with more sales opportunities and media buyers with more incentives to invest in local radio.”
Ensuring a smooth transition for its new radio station partners, Greg Tacher and Joe Costello of The Tacher Company and Jeff Slivka of Regional Reps remain with their respective companies and take on expanded roles within the Gen Media Partners organization.
The Tacher Company and Gen Media Partners launched a joint venture last year that established GMPT Media.
“Our existing partnership with Gen Media Partners paved the way for this next step in our evolution and growth,” Tacher noted. “We’re looking forward to bringing the advancements and opportunities that being a part of Gen Media Partners will deliver to our radio partners.”