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Article: Private equity funding for minority media ownership.
- Article from:
- Federal Communications Law Journal
- Article date:
- May 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 Federal Communications Law Journal. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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I. INTRODUCTION
The private equity market is a major source of capital in the United States. In 1998, organized private equity firms raised over $85.3 billion.(1) These firms are very interested in media investing. For example, one private equity firm, Hicks, Muse, Tare & Furst, recently financed the $2.1 billion purchase of SFX Broadcasting and the $1.7 billion purchase of LIN Television.(2) Private equity financing is important to all sizes and types of media companies. Much of the rapid growth of the Internet has been financed by private equity.
The two defining characteristics of the private equity market are in its name. First, it is structured as ...