Triton Radio Networks/Dial Global Acquires Jones Media Group
June 20, 2008 at 10:00 AM (PT)
TRITON RADIO NETWORKS/DIAL GLOBAL has acquired JONES MEDIA GROUP for an undisclosed amount.
Under the deal, effective immediately, JONES MEDIAAMERICA will combine with DIAL GLOBAL under DIAL GLOBAL co-Presidents/CEOs DAVID LANDAU and KEN WILLIAMS. A statement from LANDAU and WILLIAMS said, "This transaction dramatically increases the scale and scope of the combined companies’ programming and sales options, which will provide our advertising clients with significant and immediate benefits. We are committed to utilizing the company’s expanded platform and resources to enhance the services and value we offer our current and future clients."
JONES RADIO NETWORKS will merge with DIAL GLOBAL PROGRAMMING under the management of LANDAU and WILLIAMS, with the combined unit offering syndication, long-form programming, prep services and comedy services. JONES' 24/7 format business will operate alongside DIAL GLOBAL's existing 24/7 business, which it acquired from WESTWOOD ONE in 2006. JONESTM, a provider of music libraries, imaging products and jingles, will remain a separate reporting unit.
TRITON MEDIA GROUP Pres./CEO NEAL SCHORE said, "This is a very exciting transaction for TRITON RADIO NETWORKS. MIKE AGOVINO (TRITON’s COO) joins me in welcoming JONES' employees, advertisers, producers, content providers and station affiliates into the TRITON family."
TRITON RADIO NETWORKS CEO SPENCER BROWN added, "The combination of DIAL GLOBAL and the JONES MEDIA companies underscores our commitment to providing world-class service to our expanded base of valued advertising clients, producer partners and station affiliates. We look forward to helping our partners continue their growth in both network radio and the digital arena."
Launched in 2006, TRITON is a portfolio company of OAKTREE CAPITAL, a LOS ANGELES based investment firm with nearly $60 billion under management. and is the parent company of DIAL GLOBAL. DIAL GLOBAL provides national advertising sales representation for over 100 radio programs and networks in addition to DIAL GLOBAL's nationally syndicated radio programs, show prep properties and DIAL GLOBAL 24/7 Digital Formats. It also owns MJI INTERACTIVE,
JONES RADIO NETWORKS is AMERICA's leading independent radio programming company with offices and production studios in NEW YORK, LOS ANGELES, CHICAGO, WASHINGTON, DC, SEATTLE, DENVER, NASHVILLE and FLORIDA. Through its subsidiaries, the company serves over 5,000 radio stations with a full menu of radio programming and services.