September 1, 2013
Lockwood Broadcast Group, owner and operator of five television stations in the Huntsville, AL, Sherman, TX, Ada, OK, Charleston, WV and Knoxville, TN markets, announced that it has selected EFA Partners, a specialized financial advisory firm focused on the media, communications and entertainment industries, as its exclusive financial advisor. EFA Partners will assist Lockwood in connection with its plans to acquire additional "Big Four" network affiliated television stations.
Lockwood Broadcast Group began operations in the early 1990s and has purchased, operated and sold a number of television stations during this time. And in addition to the five stations currently owned, it is in the process of acquiring two more stations pending FCC approval in Greensboro, NC and Norfolk, VA.
"We are excited about exploring opportunities to acquire additional stations in new markets", stated Dave Hanna, President of Lockwood Broadcast Group, "And we are delighted to be working with EFA Partners as our financial advisor, as their industry knowledge, experience and relationships in the broadcast television and financial communities will enhance our efforts".
EFA Partners was founded in 2009 by three former executives of GE Capital's Media, Communications & Entertainment group and has represented over 50 clients to address their strategic financing or capital needs. The firm's primary focus is to lead its clients' efforts in raising capital for acquisitions, recapitalizations and other operating needs.
"Lockwood Broadcast Group has done an outstanding job with its stations and is now well-positioned to capitalize on additional acquisition opportunities", said David Harrington of EFA Partners. "We look forward to working with them in regard to these efforts."
About EFA Partners
EFA Partners, with offices in New York and Atlanta, is a specialized financial advisory firm focused on the media, communications, and entertainment industries. EFA provides its clients with debt and equity capital placement services and other financial and strategic advisory services in regards to acquisitions, dispositions, restructurings and valuations. Senior leadership has over 90 years of industry experience and has been involved in financing and advisory transactions valued at over $5 billion.