GAP Adds Third Radio Division, Names Donahoe Pres.
June 3, 2009 at 2:24 PM (PT)
GAP BROADCASTING GROUP has added a third division, GAP EAST, which will focus on acquiring and managing radio properties in markets east of the MISSISSIPPI RIVER. The company has also appointed JAMES P. DONAHOE as GAP EAST's President.
GAP EAST complements the two existing regional operating companies, GAP CENTRAL and GAP WEST, thereby giving GAP GROUP a national platform. DONAHOE, a 27-year radio industry vet. will be based in ST. MICHAELS, MD and will be responsible for all aspects of GAP EAST operations.
"GAP GROUP is committed to the industry, and the current economic environment provides a great opportunity for further investment," DONAHUE said. "During my tenures with INFINITY, SFX, CAPSTAR, AMFM and MILLENNIUM, the emphasis was on creating local media outlets that were an integral part of their communities. This was a successful strategy and has even more potential today when coupled with innovative digital initiatives."
"We are fortunate to have attracted an industry leader of JIM’s caliber to launch our funds’ efforts in the development of GAP EAST," OAKTREE CAPITAL MANAGEMENT SVP ANDY SALTER stated.
"JIM is a first-rate, operationally-minded executive with a strong track record of acquiring and growing radio clusters," seconded GAP CENTRAL Pres. GEORGE LAUGHLIN and GAP WEST Pres. ERIK HELLUM. "We look forward to partnering with JIM as we continue to expand our company."