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First Broadcasting Gets an Investment Shot

First Broadcasting Gets an Investment Shot

Look for more station buys from First Broadcasting. First Broadcasting Investment Partners, which has 13 stations, said it received $12.5 million from Alta Communications, a private equity investor already involved with First. Alta now owns 28% of the company.
First Chairman Ron Unkefer said the investment “will allow us to increase the pace and scale of our transactions.”
First Broadcasting was formed a year ago. The company recently purchased stations in Sacramento, Calif., and Cincinnati. It is owned 72% by First Broadcasting Investments LP and 28% by Alta.