Local Media of America (LMA) is going to handle programming and sales for its own three stations in the San Diego market and not renew its local management agreement (LMA) with Broadcast Company of the Americas (BCA), which has three stations of its own in the market.
OK, that’s two uses of the same acronym, LMA, so from here on out in this story it will refer to Local Media of America, which is owns by the Thoma Bravo LCC private equity firm.
LMA and Thoma Bravo praised the staff of the joint operation for a tremendously successful year, which made it possible to convert to independent operation going forward. The company also assured listeners and advertisers that it would be “business as usual” at the LMA stations.
With the transition, Gregg Wolfson has been appointed General Manager of the LMA stations and will continue to lead the sales effort. Norm McKee will continue as CFO and will assume additional duties as COO.
The BCA staff members now devoted to the operation of LMA radio stations will become employees of LMA. No changes in programming on the LMA stations are anticipated.
The LMA stations’ sales staffs will be unaffected and will continue to service their current account relationships. The LMA stations will also continue to occupy their current office location.
“All of the LMA stations have experienced a very successful 2010, and we anticipate further growth in 2011 as the San Diego and national markets continue to improve,” said Carl Thoma, a managing partner at Thoma Bravo. “We will continue to pursue an organic and strategic growth strategy for LMA that hopefully will include additional acquisitions on both a local and national scale.”
Local Media of America operates three stations in the San Diego which are licensed to communities in Mexico: XHRM-FM “Magic 92.5,” XHTZ-FM “Z-90”and XETRA-FM “91X.”