Lincolnshire Management, a middle-market private equity firm, announced the sale of Excelsior Radio Networks and its subsidiaries Dial Global and MJI Interactive to Triton Media Group LLC, a portfolio company of Oaktree Capital Management L.P. Financial terms of the deal were not disclosed.
Lincolnshire maintained an equity position going forward. Lincolnshire said it was attracted to Excelsior’s strong management team and its track record in the radio industry. It helped put Excelsior on a solid growth track and — through several add-on acquisitions — strengthen its advertising base, the interactive side of the business and broaden its network of producers.
Neal Schore is president and chief executive officer of Triton Media Group. Spencer Brown will continue as chief executive officer of Excelsior. David Landau and Ken Williams will remain as co-CEO/presidents of Dial Global.