Post by George WK Newman on May 27, 2009 8:44:33 GMT -5
PLS Media (p= platinum, L= liberty, S= Sinclair) is the name of the company formed to own the tv network. However, the media company has the potential down the line to add more assets, including cable stations, local stations groups, production studios, etc.
The current ownership group of voting share is distributed as follows;
Platinum Equity (a large investment firm) 25%
Liberty Media (an entertainment conglomerate) 20%
Sinclair Broadcasting Group (owns local stations) 20%
Activision/Blizzard (primarily a gaming company) 10%
Relativity Media (primarily a movie studio) 5%
Gannett Group (a smaller station group) 5%
Hilton Hotels (hospitality company) 5%
There are also 10% of the voting shares which have been set aside for further investment, with no more then 5% of those shares being allowed for any single buyer.
Platinum Equity has an option on April 30/2010 to divest of 10% of the company at fair market value, with 5% going to Liberty Media, and 5% going to Sinclair.
The current ownership group of voting share is distributed as follows;
Platinum Equity (a large investment firm) 25%
Liberty Media (an entertainment conglomerate) 20%
Sinclair Broadcasting Group (owns local stations) 20%
Activision/Blizzard (primarily a gaming company) 10%
Relativity Media (primarily a movie studio) 5%
Gannett Group (a smaller station group) 5%
Hilton Hotels (hospitality company) 5%
There are also 10% of the voting shares which have been set aside for further investment, with no more then 5% of those shares being allowed for any single buyer.
Platinum Equity has an option on April 30/2010 to divest of 10% of the company at fair market value, with 5% going to Liberty Media, and 5% going to Sinclair.