May 15, 2013
Ronkonkoma, NY – JVC Media, the leading independent, locally owned radio broadcaster on Long Island, has entered into an agreement to buy Asterisk Communication’s five Florida FM radio stations, WTRS, WMFQ, WXJZ, WBXY and WYGC.* JVC owns 4 FM radio stations on Long Island, WPTY, WBON, WJVC, WRCN and operates Long Island Events, which manages the 7,000 seat outdoor entertainment venue known as the Pennysaver Amphitheater. JVC was formed by broadcasting veterans John Caracciolo and Victor Canales and is backed by Northwood Ventures.
102.3 WTRS is a heritage Country station serving the Gainesville/Ocala Florida market with a legendary track record of success and community involvement. Hot AC WMFQ, Q92 serves North Central Florida as one of the top rated music stations in the area thanks to its great signal and award winning staff. WXJZ is a unique FM station serving the Gainesville area with a smooth FM music mix format that has developed a deeply devoted following. WBXY and WYGC, both Gainesville FM stations make up the rest of this market dominating cluster.
JVC Media has been in a rapid growth mode, recently expanding on Long Island with its entertainment and broadcast division adding jobs and staff and working hard to make radio local and community friendly once again.
JVC Media CEO, John Caracciolo said, “We are honored and privileged to welcome these top performing radio stations into the JVC family. The prior owner of these stations was committed to community service, high quality broadcasting and creating an excellent work environment for its staff, and we are proud to be able to continue the tradition that Asterisk started in this great market”.
JVC Media VP, COO Victor Canales added, “We love this radio market, and we are excited to continue the trend of fun, local radio in North Central Florida”. “We plan on adding staff in Florida and New York and to make a big splash with marketing and programming when we begin operating the stations”, he added.
George Reed of Media Services Group represented the seller, Asterisk Communications.
About JVC Broadcasting
JVC Broadcasting is the largest, independently owned and locally operated radio broadcast company and live entertainment company on Long Island, NY. JVC’s commitment is to bring fun, exciting, local radio and live events back to its listeners and the consumer. JVC’s NY stations serve the Nassau/Suffolk market and coastal Connecticut and include – flagship station Dance, Rhythmic WPTY-FM PARTY Radio on 105.3, Long Island’s only Spanish FM station, LaFiesta on 98.5, heritage classic rock station 103.9 WRCN and the Island’s newest radio station and the only Country FM station in the area, WJVC-FM My Country 96.1.
JVC’s event division Long Island Events is the operator of The Pennysaver Amphitheater, a 7,000 person outdoor concert event facility on Long Island. These businesses power JVC, the leading provider of entertainment marketing solutions for the area, enabling thousands of advertisers to tap into the 3.5 million Long Island consumers JVC delivers through its live event, electronic media and digital platforms.
For additional information, visit www.jvcbroadcasting.com 631-648-2500
About Northwood Ventures
Northwood Ventures partners exclusively with successful management teams to make equity investments in privately held companies. We invest in venture capital and management buyout opportunities in a broad range of industries, with a particular interest in the communications, retail/consumer, manufacturing, and financial services sectors. Northwood’s flexible and long-term philosophy allows us to creatively evaluate and structure our investments. Since our establishment in 1983, we have invested in approximately 160 companies.
For additional information, visit www.northwoodventures.com
About Media Services Group
Media Services Group is a leading national media brokerage and appraisal firm specializing in radio/TV stations, their digital assets, and communication towers. The firm has served broadcasters, broadcast investors, tower owners, and lenders for over twenty years with professional media brokerage, tower brokerage, valuation, and workout consulting services. We close deals via our national footprint of eleven regional offices.
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* Pending FCC Approval