Tue Mar 6 11:08:37 EST 2007
I've been doing some research into the ownership of major station
groups. Those of you who have visited the Archives recently will have
noted that the Entercom stations now identify Joseph M. Field; like
many formerly-private firms, Mr. Field structured his company so as to
retain a majority vote for himself while selling the majority
*economic* stake to the public. Conveniently for me, the FCC requires
biennial reports on who actually does own and control every licensee.
What about other station groups in the area?
As is well known, CBS is controlled by Sumner Redstone through his
company National Amusements. Rose City Radio (WWZN) is Paul Allen,
and Beasley Broadcast Group (WRCA) is ultimately controlled by George
G. Beasley. Multicultural (WLYN) is 51% owned by Arthur Liu -- the
remaining 49% is owned by his wife Yvonne; similarly, ownership of
Champion is split 51/49 between Herbert Hoffman and his son (?)
Matthew. Salem belongs to the Atsinger-Epperson family (Mr. Atsinger
is married to Mr. Epperson's sister, or vice versa, I forget which).
An odd case is Greater Media. According to the most recent ownership
reports, Greater is still owned by the Estate of Peter A. Bordes,
several years his decease. Surely one would expect the estate to be
settled by now? (It probably doesn't matter, since his executors are
his widow, Lee Bordes, and his brother, John Bordes.)
Another interesting one (moving now into the TV world) is Fox. Fox is
only 81% owned by News Corp.; the remainder is owned by Rupert
personally, through an unusual income trust structure. News
Corp. itself is no longer controlled by Murdoch; thanks to his deal
with Liberty Media he only has 31.2%; Liberty has another 19.1%.
Entravision is another company which can be controlled by two people,
when they choose to cooperate: Walter F. Ulloa (34.1%) and Philip
C. Wilkinson (same). A third partner, Paul Zevnick, has only 14%.
Univision has a large economic interest in Entravision, but has no
voting rights for market-cap reasons.
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