Media Industry
Industry: Email Alert RSS FeedInvestment firm offers Capstar Partners $1 billion acquisitions war chest. (Capstar Broadcasting Partners, Hicks Muse Tate & Furst)
Broadcasting & Cable, May, 1996 by Petrozzello, Donna
New broadcast group will target midsize radio markets With plans to back new radio ownership ventures with up to $1 billion in capital commitments, the investment firm Hicks Muse Tate & Furst stands to become radio's largest financial backer. Last week, Hicks Muse announced that it will dedicate $100 million in capital toward radio acquisitions by R.
Steven Hicks and his nascent Capstar Broadcasting Partners. Hicks plans to operate Capstar Broadcasting with partner and brother Thomas Hicks, who leads Hicks Muse as its chairman and chief executive officer. In a separate announcement, Thomas Hicks was elected chairman of Chancellor Broadcasting Co.'s board of directors. Hicks Muse controls nearly 60% of voting stock in Chancellor's 30-station group. ...
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