That’s “Star Media Asset Recovery Team.” Responding to the current economic situation, the media brokerage firm has launched a new division to help financial institutions maximize their return from distressed properties.
Dallas-based Star Media Group is calling SMART a one-stop solution that enhances media property values by consolidating companies with similar assets and financial challenges into a single operating entity. Cash flow is improved dramatically by exploiting economies of scale, asserting fiscal control and employing innovative revenue-building solutions.
“By combining media properties from an investor’s portfolio, Star Media Group’s experienced team of broadcast specialists manages the consolidated company, resulting in a substantial savings in corporate expenses, operational economies of scale and flexibility to package various groups of stations together to maximize asset sale opportunities,” said Peter Handy, Managing General Partner of Star Media Group. “The diversified expertise of SMART’s team members covers all facets of the radio business, including operations, financial, brokerage and legal…in all market sizes and formats” he added.
Star Media Group is collaborating with Savage Media Group LLC for the SMART venture. Led by Scott Savage, a 35-year veteran of the radio industry, Savage Media Group was established in 2006 as a consultancy service for the broadcasting industry.
“With the industry facing its most difficult economic challenges ever, SMART will help clients weather the storm while also creating solid fiscal platforms for the future,” said Savage.