The transaction marketplace is picking up. We’ve heard from a small company that’s ready to buy – although it won’t be on the scale of this week’s $50 million deal in West Palm Beach – but there’s definitely a trend toward more activity.
As the smallest company in the RBR-TVBR daily stock list, Light Media Holdings currently owns only one FM station, WZBN-FM “Power 105.5/The King” Albany, GA, acquired in late 2010. But that may be about to change and move the company to radio group owner status. The company tells RBR-TVBR it is on the hunt.
“Light Media has confidentially examined eight FM radio acquisition candidates. This list has been narrowed down to two radio stations that would enhance enterprise value and positioning. Mary Catherine Sneed (former COO, Radio One) (Strategic Advisory Council Member) will be instrumental in assisting in programming one of these two target FM radio stations, should mutually amenable deal terms be struck with the target Seller,” the company said.
The acquisition effort follows the posting of strong Q4 growth by the penny stock company.
In addition to radio, Light Media is active in selling website advertising, with 88 domains currently part of the Light Media Network. The company cites the recent successful launch of www.AmenGospel.com, growing from 17 to 38 inspirational artists within 30-days, adding to the 1700 independent inspirational artists who also call Light Media property www.GospelEngine.com home.
As the names of the radio station and websites indicate, Light Media is focused on inspirational media ventures. Specifically, it markets, produces and distributes inspirational music, video, video games, print media and entertainment in the Urban Media arena.
RBR-TVBR observation: Radio has always been a good place for a well-targeted niche player to operate. We wait to see what market is next for this very targeted broadcaster.