WhiteHawk Capital Partners Provides Credit Facility to MediaCo
WhiteHawk Capital Partners, LP ("WhiteHawk"), a private credit investment manager focused on asset-based financing solutions, announced it has entered into an agreement with MediaCo Holding, Inc. ("MediaCo") to provide a $45 million first lien term loan facility (the "Facility") on April 17th, 2024. MediaCo used proceeds of the Facility to finance an acquisition of Estrella Media's network, content, digital, and commercial operations.
MediaCo, which operates marquee urban radio stations HOT 97 and WBLS 107.5 in New York City, will be adding Estrella Media's Spanish-language video, audio, and digital content operations under the same umbrella. This transaction will also allow MediaCo to reach the established audiences of Estrella Media's market-leading regional Mexican radio stations, including Que Buena Los Angeles, home of the Don Cheto Al Aire nationally syndicated morning radio show, La Raza in Houston and Dallas, and El Norte in Houston.
The combined footprint of MediaCo positions it as one of the strongest radio content providers for Spanish and Urban music in both terrestrial radio and audio streaming.
"We are thrilled to work with the WhiteHawk team again, and their creativity and flexibility make them the perfect partner for our growth. Their support will empower us to expand our business further," said Deb McDermott, Chairwoman of MediaCo's Board of Directors.
"We are excited to continue our partnership with MediaCo. The combination of their respected media brands and talented team position them well for continued growth" said Brad Huge, WhiteHawk Managing Director.
About WhiteHawk:
WhiteHawk Capital Partners, LP is a private credit investment manager focused on asset-based financing solutions primarily to middle market private and public companies across a variety of industries. WhiteHawk provides senior secured financings under a variety of structures for purposes of refinancing, recapitalization, growth, acquisition, restructuring, bridge, and DIP/emergence. For more information visit www.whitehawkcapital.com or contact [email protected].
About MediaCo :
MediaCo Holding Inc. ("MediaCo") is a publicly listed media company (NASDAQ:MDIA) that super-serves communities throughout the country. MediaCo owns and operates two iconic radio stations in New York City, HOT 97 (WQHT-FM) and WBLS-FM, which boast extensive digital reach across the US. The company primarily generates revenue from advertising sales, program syndication and live events. To learn more about MediaCo, visit www.mediacoholding.com.
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