Communications Equity Associates International Ltd., ("CEAI"), announced today that it represented County Media Limited ("County Media"), a radio broadcasting business based in Cork, Ireland, in the 60% sale of its issued share capital to Ulster Television plc for a consideration of IR#17.3 million. The transaction was completed on April 17, 2001 and at completion, County Media had net debt of circa IR#1.95 million.
County Media is an established and well-managed radio broadcasting business with the leading listenership positions in the Cork area, the largest county in Ireland. The company currently operates three independent local radio stations in Cork, namely: 96FM in Cork City, 103FM in North Cork and 103FM in West Cork.
Communications Equity Associates International, Ltd is an affiliate of Communications Equity Associates, LLC ("CEA"). CEA is an investment banking and private equity firm specializing in the media, communications, technology and entertainment industries with particular emphasis on cable television, broadcast, outdoor advertising, telecommunications, towers, information technology, converging media and entertainment. With over 200 personnel in offices worldwide, the company has been a leader providing these services since 1973. CEA group companies manage a worldwide family of funds with committed capital of over $783 million for private equity investments in the communications, entertainment and converging media industries. With offices in New York, Philadelphia, Tampa, Boston, Greenwich, London, Munich, Paris, Dusseldorf, Madrid, Singapore, Sydney and Prague, CEA is the only investment and merchant bank with true worldwide presence that is focused exclusively on the media, communications and entertainment industries. CEA is a member of the National Association of Securities Dealers, Inc., and its professional associates are registered with the NASD. Member SIPC. CEAI is regulated by the Financial Services Authority.
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Carol O'Connor +44 20 7647 7700