Business TalkRadio sold to Texas brand
Tim Loh Updated 9:19 pm, Wednesday, October 16, 2013
Business TalkRadio Networks, a Stamford radio-syndication company that connects radio personalities and listeners all over the country, said Wednesday that it has been acquired by a Texas company in a move designed to leverage its radio resources with TV holdings.
No price was given for the deal, which comes more than a year after BTRN, the Stamford company that also operates in Greenwich, was placed in receivership by a federal court and put up for sale following an executive's involvement in a civil suit brought by the Securities and Exchange Commission.
The Arlington, Texas, parent company, Center Post Holdings, said that pairing Business TalkRadio Networks, which employs about 20 people, with BizTV will allow it to gain a better foothold in TV and radio networks across America.
Together, those outfits offer radio, TV and websites that are geared for entrepreneurs, small business owners and families. The programming is designed to help people manage money, start ventures and grow businesses, according to the release announcing the sale.
"This acquisition fits nicely in our portfolio of media centric assets," Scott Miller, executive vice president of Center Post Holdings, said in the statement. "A number of the programs are carried on both networks currently and we expect that number to expand as we integrate the operations."
The reach of the combined properties will exceed 30 million TV households and millions of radio listeners, Miller added.
Jeff Weber, president of Business TalkRadio Network in Stamford, sounded upbeat about the deal Wednesday.
"The synergies between BTRN and BizTV create some exceptional opportunities," he wrote in an email. "There will be cross-marketing between their TV distribution and our radio syndication. The result will mean more listeners, more affiliate opportunities and greater exposure for advertisers."
Local carriers of Business Talkradio Network include WLAD 800 AM in Danbury, WGCH 1490 AM in Greenwich and WXCT 990 AM in Southington. Listeners can also log in at businesstalkradio.net
BTRN last year became entangled in the legal troubles of its former CEO, Michael Metter, who was charged with securities fraud related to his tenure as CEO of another company, Spongetech Delivery Systems. Metter pleded guilty in January to a lesser charge and received five years' probation. |
