Lazard Assumes Control Of Mapleton
July 24, 2009 at 4:28 PM (PT)
Equity investor THE LAZARD GROUP's CORPORATE PARTNERS II has assumed 90% control of MAPLETON COMMUNICATIONS, which owns 41 radio stations in CALIFORNIA, OREGON and WASHINGTON. The MAIL-TRIBUNE reported that the ownership control has been posted on the FCC website this week.
The LAZARD GROUP first got involved with MAPLETON COMMUNICATIONS in JULY, 2006, providing the funding to help it acquire 10 stations from REGENT COMMUNICATIONS. When the economy went south and it became apparent that MAPLETON couldn't handle the debt, control of the group was transferred to LAZARD.
However, MAPPLETON CEO ADAM NATHANSON and most of the management will remain with the group.