Verax Capital Partners Announces Investment in GoodRadio.TV

Verax Capital Partners Announces Investment in GoodRadio.TV

PARSIPPANY, N.J., April 17 /PRNewswire/ -- Verax Capital Partners, a private equity firm focused on the middle market, announced today it has completed an investment in GoodRadio.TV, LLC. Verax has partnered with Dean Goodman, Wells Fargo Foothill, and Pacific Media Capital to complete the recapitalization of GoodRadio.TV.

GoodRadio.TV was formed by Dean Goodman in late 2006 in order to acquire "hyper-local" radio operations in small to medium markets. The company currently owns 24 radio stations and one radio FM construction permit in 12 markets in Missouri and Iowa. GoodRadio.TV targets markets with healthy economic and demographic characteristics to create the potential for strong on air, promotional, and Web advertising expansion.

"GoodRadio.TV's management team has a proven, long term track record of building successful businesses in the media industry. With the leadership of Dean Goodman, CEO, and George Pelletier, COO, and through this recapitalization, GoodRadio.TV is in a strong position to continue to grow both organically and through acquisition," said Verax partner Eric Koza.

"We have been searching for the right situation for Verax's initial investment. Core to our philosophy is to partner with seasoned management teams to build businesses. Without question, Dean and George are well-respected and experienced executives with broad-reaching expertise in the media business. We are excited to create this partnership with Dean and the management team," commented Verax partner Steve Hardek.

"Small markets continue to reward growth to radio stations that have focused on being the primary media for local news, weather, sports and entertainment in these communities. I am likeminded with Verax in this broad based opportunity. In addition to capital, the Verax partners bring diversified expertise to the table, which as a team, we will capitalize on for our company's success," explained Goodman.

About GoodRadio.TV

GoodRadio.TV was formed by Dean Goodman in late 2006 in order to acquire "hyper-local" radio operations in small to medium markets. The company currently owns 24 radio stations and one radio FM construction permit in 12 markets in Missouri and Iowa. GoodRadio.TV targets markets with healthy economic and demographic characteristics to create the potential for strong on air, promotional, and Web advertising expansion. For information visit http://www.goodradio.tv/.

About Verax Capital Partners

Verax Capital Partners, L.P. is a private equity firm focused on control investments in mature U.S. companies. Verax works with management teams to acquire asset-based or cash-generating businesses with revenues typically ranging from $5-$75 million. For information visit http://www.veraxcapital.com/ or call (973) 599-9400.

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Source: Verax Capital Partners

CONTACT: Eric Koza, Partner of Verax Capital Partners, +1-973-599-9400,
ekoza@veraxllc.com; or Dean Goodman, CEO of GoodRadio.TV, +1-561-832-7972,
dean@goodradio.tv

Web site: http://www.veraxcapital.com/
http://www.goodradio.tv/

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Profile: International Entertainment