Triton Radio Acquires Jones Media

[Kelly]

I was reading all the various trade E-publications that populate my E-mail every morning, and noticed in Mediaweek, (http://mediaweek.com), that Jones Radio Networks et. all, have been purchased by a company called Triton Radio. Since Jones has had a long presence here in the Seattle area under various incarnations over the years, I thought this was a notable news event.

Since I'm not at all familiar with Triton, (other than the wiper blades..no relation), or their radio network Dial Global, I did a little on-line search. Apparently Dial syndicates Stephanie Miller's show carried locally on KPTK, (which I thoroughly enjoy except for all the sound effects), Clark Howard, and Neal Boortz, (who ever that is).

Based on what I can tell, the principals at Triton are a bunch of Private Equity guys from Oaktree Capital. According to the articles I could dig up early in the announcement, it appears that Dial's management will be put in place to run Jones. What I've seen with similar transactions, announcing this sort of management reorganization early on usually means the acquired entity gets a management shakeup, and full review of the business with an eye on operating more efficently, (aka RIFs). This especially holds true with a PE company steering the boat.

Anyone, (who actually works in radio that is), on this board have any knowledge of Triton or Dial?

 

[SeattleRadioPro]

Since I'm not at all familiar with Triton, (other than the wiper blades..no relation),

Actually, the wiper blade company is Trico, not Triton. Triton is a marketing name for a Ford V8.

As for Triton Radio - the ownership groups also control other small radio groups (e.g. GAP and GAP West) and bought the former Westwood 24-hour satellite formats, so they're radio people, not bean counters. Some duplicate positions between Jones and Triton were eliminated, but no one's saying what specific positions were cut. Triton also says it will keep JonesTM as a separate unit from the radio operations.

There are reports Triton managers were in Seattle on Friday to meet with the staff.

I'd expect them to combine operations in a single location to cut costs. And I wouldn't bet on Seattle being that place.

 

[LITTLEBOYBLUE]

Was also wondering about the consolidation of location thing ... but there is still a chance for syndicated shows to stay here if the talent throws a fit about it. Isn't that how Delilah got her show based in SEA or was that just grand-fathered because she was already here when Jones (though that deal pre-dates the Jones Acq. of B/P) had taken over her show? Are the Westwood formats still based in Valencia right by Magic Mountain ... or did they move after the acquisition?

Jingle guys have to be as confused as anyone who works for a brewery or a bank! "We're Century 21". Whoops "no we're TM/Century".... whoops "no we're JonesTM" ..... whoops ....

 

[SeattleRadioPro]

Was also wondering about the consolidation of location thing ... but there is still a chance for syndicated shows to stay here if the talent throws a fit about it. Isn't that how Delilah got her show based in SEA or was that just grand-fathered because she was already here when Jones (though that deal pre-dates the Jones Acq. of B/P) had taken over her show?

IIRC Delilah was already in Seattle (on Warm 106.9) before the syndicated show hit the air - and since '04 she's been syndicated by Premiere.

 

[Kelly]

I imagine that the "talk" hosts like Delilah could probably do their show via ISDN from their living rooms if they decide to shut down the Seattle studios/offices. (If she's not doing it already) The syndicated music shows out of Denver would be a different story.

Whereas I completely understand that this is just another business deal, seeing another media-based company leave town is unfortunate.

 

[BruceC]

Dial-Global's 24/7 Digital Formats ARE still in Valencia. Whitney Allen's syndicated country program broadcasts from Valencia as well. I do the morning show at D-G's KOOL GOLD and I can tell you that the people at Dial-Global are both (a) very aggressive in growing the company, and (b) some of the fairest, nicest people in the radio business. I've been at the network for 22 years and Dial-Global's professionalism and drive to be the best in the business is extremely impressive. The 24/7 Networks operate under an AFTRA contract and upon their acquisition of the company from Westwood One, the management of DG was very open and cooperative as far as union dealings. I'd have to say that they are the best company I've ever worked for in the many years I've been in broadcasting. The acquisition of Jones Media is rather ironic, in that Westwood One COULD have sold the networks to Jones Media, who had an offer for more money on the table, but, WW1 knew that would probably mean closing down the Valencia facility. WW1 management had the loyalty to it's employees to take the lesser offer in order that scores of broadcasters would not be left out in the cold. Now, what WAS WW1 has acquired the company that just may have shut it down and taken the affiliates! I'm sure Dial-Global will be very fair and think very carefully before consolidating positions between the entities. Meanwhile, the Dial-Global employees have received a memo from D-G corporate stressing that NO D-G positions would be eliminated in the transaction. To anyone interested in future job ops with Dial-Global, I say "go for it." It's a great company and growing at a dizzying pace. You may have heard that Triton (parent company) also bought WAITT Radio Networks a couple of months ago! These people mean BUSINESS!

 

[LITTLEBOYBLUE]

I clearly didn't do enough "uppers" in the 70's cuz the 80's is kind of a blur I must have slept through. But I am trying to remember the landscape...Transtar, I believe, was first Satellite-based network to do syndication live to multiple affiliates. They were in Colorado Springs. Along came Satellite Music Networks (SMN) to compete in that space ... and Ivan Braiker tried his thing up here in Seattle, but lasted basically under a year. SMN, I believe, became the ABC networks ... still on the air. Did Transtar end up becoming the Westwood-1 networks? Somewhere in there I kind of recall Transtar and United Artists merging and Dick Clark had a piece of that ... or did "Unistar" have a different origin than that? Wondering where Westwood-1 entered the pic? And, then, when did Jones enter the race ... or did THEY take over Transtar (since they are based in CO?). That part could just be coincidence since ColoSprings was such a hotbed for satellite uplinks.

Sidebar = Ivan Braiker's outfit never really got a satellite uplink of their own. They rented an NPR/PBS satellite truck --- fortunate since that was easiest asset of all to liquidate. It was SUPPOSED to be temporary, but I always thought of it as a symbol.

 

[dannyw]

I work for what was Jones Radio until last Friday. The initial meetings and buzz from Dial Global folks seem very positive and it might turn out to be a very good thing for the former Jones folks. At least most of them. While all companies have some dirty laundry and all employees have at least a gripe or two and I won't be airing mine here BUT ...

Overall, I've I've been real happy at Jones and it has become very much like a family. We're feeling good about all this. Just speaking for myself, I am ready to move forward, pick up the pace and, as a poster stated, get seriousabout being the best we can be.

And as for relocation, there have been rumbles and rumours over the years about other possible moves and mergers but it's pretty obvious most of us don't want to move. And in today's world, is that really necessary? Nahhh ...

 

[BruceC]

In answer to LITTLEBOYBLUE...Transtar was bought by United Stations (not "Artists"). Neil Verbitsky and Dick Clark were the principal players. Transtar was renamed as a combination of the two; Unistar. The Formats division moved from Hollywood to Valencia when it was still "Unistar." Years later, Unistar was sold to Westwood One. Westwood One operated the Formats until about a year and a half ago, then sold off to Dial-Global.

 

[BruceC]

oops, that should read "Nick" Verbitsky.

 

[semoochie]

Just to complicate things, there was another company called "United Stations", after that!

 

[dannyw]

And I think I worked for United Stations at 107.9 in Cleveland. The circle continues ...