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Joyner 'Reach' Deal Formalized - Radio World

Joyner 'Reach' Deal Formalized

Joyner 'Reach' Deal Formalized
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The press release has been issued on what had been reported throughout the industry last week: Tom Joyner and David Kantor have partnered to form Reach Media.
"The new multimedia company will target African-Americans through radio, television, event production and the Internet," according to the statement. "ABC Radio Networks has purchased 10% ownership in the new company and has entered into a sales representation agreement with Reach Media ventures."
Joyner is listed as founder, chairperson and majority owner. Kantor is vice chair and CEO. Oscar Joyner is president and COO.
"The Tom Joyner Morning Show, currently syndicated by ABC Radio Networks, is the centerpiece of Reach Media," the statement continued. "The ABC Radio Networks/Reach Media agreement will run through 2009 and represents over $200 million in advertising and sponsorships during the course of the agreement."
Reach said it is developing potential TV and movie projects, as well as offering a "major entertainment event targeted to African-Americans" in 2003.

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