First Broadcasting Gets an Investment Shot

First Broadcasting Gets an Investment Shot
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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.