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TM Century Acquired by Jones Media Group

TM Century Acquired by Jones Media Group

TM Century will become a wholly owned subsidiary of Jones Media Group Ltd.
The deal, which must meet certain conditions, would close around the end of this month. The companies say the merger should result in the payment to TM Century stockholders of approximately $4.80 per share, of which approximately 34 cents would be held in escrow.
TM Century is based in the long-time jingle capital, Dallas, and dates its roots to two companies that began in the 1960s. It was formed from the merger of Century 21 Programming and TM Communications. It now offers various music-based products for broadcasters including jingles, music libraries, production music, station imaging packages and morning show prep and comedy services.
JMG, in Colorado, is a radio network business that syndicates programming and services; it is the parent of Jones Radio Networks. It also offers ad sales services to radio programming producers.
The deal was announced by JMG President Robert W. Hampton and TM Century President/CEO David Graupner.