Local Media San Diego Truly ‘Local’
• Local Media Local Media San Diego, LLC (LMSD) announced that a group led by its Executive Management Team — CFO Norm McKee, VP/GM Gregg Wolfson and Director Steve McNeely — has entered into an agreement to acquire LMSD, including its interests in Alternative XTRA (91X), Top 40 XHTZ (Z90.3) and Rhythmic AC XHRM (Magic 92.5), as well as related operating and real estate assets.
LMSD has been operated by the current Executive Management Team since being acquired by private equity firm Thoma Bravo in December, 2009. Thoma Bravo has subsequently shifted its investment focus to software and technology and has no other media investments.
The Executive Management Team will continue to operate LMSD in their current capacities, post-closing. LMSD, in addition to operating 91X, Z90.3 and Magic 92.5 serving the San Diego market, also owns digital advertising provider Local Media Digital and is San Diego’s leading event organizers, hosting such annual lifestyle events as Taco Fest, X-Fest, Beer-X, Ye Scallywag and Wrex the Halls, among others. Terms of the deal were not released. The transaction is expected to be finalized as soon as the required regulatory and other approvals have been obtained.
