FIRST BROADCASTING INVESTMENT PARTNERS
MERGES WITH CAVALRY MEDIA SERVICES
Private equity firm Alta Communications today announced that it had acquired the broadcast industry’s leading management consulting company, Cavalry Media Services and will merge it with recent acquisition First Broadcasting Investment Partners, the market leader in spectrum innovation, to form Broadcast Management and Technology, LLC (www.BMTllc.com). Gary Lawrence, current CEO of First will become the CEO of BMT and Cavalry’s Managing Director/COO Jay Meyers will join as President/COO. Lawrence and Meyers will join Alta partners Brian McNeill and Bob Emmert on the Board of Directors of the new entity.
Commented Emmert, “Gary Lawrence and his team have built First Broadcasting into the leading company in the broadcast industry in the areas of spectrum technology, proprietary software development and technical upgrades. And, Jay Meyers has built Cavalry into the industry’s leading management consulting firm. The Cavalry acquisition and subsequent merger of the two companies enables us to expand our offerings to the industry across the fullest range of broadcast management and technical services.”
“This transaction makes BMT the definitive leader in all aspects of broadcast spectrum technology and management services,” said CEO Gary Lawrence. “Our strategic plan includes broad based domestic and international growth in management consulting, software technologies, and technical services. With an industry luminary such as Jay Meyers driving growth and operations, we expect to expand quickly.”
Said Meyers, “The growth of Cavalry since it began has been one of the most rewarding experiences of my career. Merging it with the many assets of First Broadcasting will set Broadcast Management and Technology, LLC apart from any other firm providing services to the broadcast industry. Our two companies provided complimentary services and often worked together on projects. Now a client can come to one place to solve all of their needs, from broadcasters looking to maximize their signals, to lenders with troubled broadcast loans in need of management and operational help, to those looking to access some of the finest consulting engineering minds in the country and much more.”
Rounding out the executive team of BMTllc are Hal Rose, EVP of Business Development, Neil Read, EVP Finance/CFO and Bob Denny, EVP Technology, all veterans of the First Broadcasting team. Rose will expand his role with the company beyond the technical upgrade business and broaden into other service areas, and Read will take on an expanded role providing the financial consulting and operational element to the traditional services that Cavalry offered to its clients. As part of its service menu, BMTllc will offer Receivership, Trusteeship (Chapters 7 and 11) and Blind Trust services.
The company further announced that it will begin to offer Engineering Consulting services to the Radio and Television industries spearheaded by Denny. Prior to joining First in 2006, he ran the highly respected Washington consulting engineering firm, Denny and Associates (formerly Jules Cohen and Associates). Said Denny, “I am pleased to let my former clients and the entire broadcasting industry know that the services and expertise they came to know and trust at Denny and Associates, is now open again for business under the BMTllc banner. Combining that with our cutting edge Spectrum Innovation Lab makes us the number one choice for anyone looking for technological help and innovation.”
The announcement was made to a joint staff meeting this morning at the headquarters of First Broadcasting in Dallas, TX. Broadcast Management and Technology will be based in Dallas and will soon have a new website at www.BMTllc.com.
Prior to forming Cavalry Media Services, LLC with four other partners, Meyers was a Senior Vice President at Clear Channel radio and before that the legendary Jacor Communications. He also spent ten years as a General Manager on the radio station side, and earlier in his career was an award winning program director and air personality.
Alta’s Managing General Partner Brian McNeill commented, “When we made the decision last year to buy a controlling interest in First Broadcasting, it was because we felt that Gary and his team had put themselves on the cusp of great success. I’ve known Jay for 15 years and have always thought it would be great to be in business with him. Merging these two successful companies under one leadership team not only provides us with a wonderful investment, it provides the broadcasting industries with a single place to go for all their management and technology needs. BMTllc becomes the market leader on day one. Those are the kind of solid investments we are always looking to have a stake in.”
For further information:
Broadcast Management and Technology, LLC (BMT, LLC.) 214 855 0002
Alta Communications 617 262 7770 |