NextMedia Completes Purchase of Five Radio Stations Serving Wilmington, North Carolina

NextMedia Completes Purchase of Five Radio Stations Serving Wilmington, North Carolina

DENVER, Feb. 1 /PRNewswire/ -- NextMedia Group, Inc. announced today that it has completed its previously announced purchase of five radio stations serving Wilmington, NC. The Company acquired WAZO-FM, WRQR-FM, and WMFD-AM from Ocean Broadcasting, LLC, and WKXB-FM and WSFM-FM from Sea-Comm, Inc., for a total cash consideration of $24.5 million. Following this acquisition, NextMedia now owns and operates 20 radio stations and over 1,200 outdoor advertising displays in the Coastal Carolina region.

About NextMedia

NextMedia Operating, Inc. is a diversified out-of-home media company headquartered in Denver, Colorado. NextMedia, through its subsidiaries and affiliates, owns and operates 66 stations in 16 markets throughout the United States and more than 6,200 bulletin and poster displays. Additionally, NextMedia owns advertising displays in more than 3,000 retail locations across the United States. Investors in NextMedia's ultimate parent entity, NextMedia Investors, LLC, include Tailwind Capital Partners, Alta Communications, Weston Presidio Capital and Goldman Sachs Capital Partners, as well as senior management. NextMedia was founded by veteran media executives Carl E. Hirsch, Executive Chairman, and Steven Dinetz, President and CEO.


Source: NextMedia Group, Inc.

CONTACT: Sean Stover, Chief Financial Officer of NextMedia Group, Inc.,
+1-303-694-9118; or Todd St. Onge, stonge@braincomm.com or Kim Holt,
holt@braincomm.com, both of Brainerd Communicators, Inc., +1-212-986-6667, for
NextMedia Group, Inc.

Web site: http://www.nextmediaradio.com/


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