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Report: Border Media Partners Near Takeover
| RADIO ONLINE | , , | :am CT |
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Three New York-based lenders are set to seize control of Dallas-based Border Media Partners, the parent company of 29 Texas radio outlets, including seven in San Antonio, reports the San Antonio Express-News. Lenders Goldman Sachs Group, Vestar Capital Partners and D.B. Zwirn & Co. are likely to take control of BMP, which has not made a debt payment in two years.
Following the takeover, the lender may liquidate assets and BMP President/CEO Jeff Hinson may be out by the end of July. A spokesman for Goldman Sachs declined to comment to the newspaper.
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