SLIDESHOW

ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Dealmakers

The Buyside:
Disney, Warner Bros. Seek Next-Gen YouTubes

Traditional Hollywood studios such as Disney and Warner Bros. are seeking next-generation YouTube content providers

The Buyside

Activist Investors Dig Into Mid Market
Spurred on by the high-profile success of Carl Icahn and others, a growing crop of firms is looking further downstream

Today’s Transactions:
Lamar Takes Over NextMedia’s Advertising Business

The $145M deal eliminates NextMedia’s debt

Lamar Advertising Co. has completed its $145 million acquisition of NextMedia Outdoor Inc., an advertising subsidiary of NextMedia Group Inc.

The deal marks NextMedia’s exiting of the outdoor advertising business, which consisted of about 7,000 advertising sites and 155,000 billboards. The Englewood, Colo.-based seller said it plans to focus solely on its broadcasting business. Nextmedia operates 33 radio stations across eight states, including California, Illinois, Michigan, North Carolina, South Carolina, Ohio, Texas and Wisconsin.

NextMedia is majority owned by private equity firms Strategic Value Partners LLC and Angelo Gordon & Co. The two firms acquired the company in June 2010 out of bankruptcy. NextMedia filed Chapter 11 on Dec. 21, 2009.

Proceeds from the sale will be used to eliminate NextMedia’s remaining debt.

Lamar is headquartered in Baton Rouge, La.

 

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