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BMP Gets More Money for Hispanic Purchases

BMP Gets More Money for Hispanic Purchases

Border Media Partners said it has a commitment for $85 million in capital from an investor
group led by Vestar Capital Partners.
It expects soon to become the largest privately held Hispanic radio company in the United States when measured by number of stations. BMP’s chairman said the company is on the leading edge of a trend toward “greater inflows of institutional investment in Hispanic owned and managed enterprises.”
The company is seeking to consolidate Hispanic radio holdings; it recently bought eight stations from Amigo Broadcasting. “The new equity capital will help fund the Amigo acquisition, valued at approximately $70 million,” it stated.
Its portfolio stands at 29 stations, up from six in January, in Dallas, San Antonio, Austin, McAllen/Brownsville, Laredo and Waco.
Vestar joins existing shareholders including Goldman Sachs Urban Investment Group, Darby-BBVA Latin America Private Equity Fund LP, RGG Capital Partners, the Tony Sanchez family of Laredo, the Danny Villanueva family of Los Angeles, D.B. Zwirn & Co., President, CEO and Co-founder Thomas H. Castro and the company’s management team.
Vestar will be represented on BMP’s board by Kenny O’Keefe, a former executive with Clear Channel, Viacom and Pyramid.