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Triton Radio Networks / Dial Global Announces Acquisition of Jones Media Group

Posted on: Tuesday, 24 June 2008, 02:29 CDT

Triton Radio Networks, a wholly-owned subsidiary of Triton Media Group, today announced the acquisition of Jones Media Group and its operating companies, Jones Media America, Jones Radio Networks and JonesTM from Jones International Ltd. This acquisition expands the company's product and service offering to include industry-leading positions in national advertising sales representation, digital 24/7 formats, prep services, web content and services, music libraries, imaging and jingles.

Neal Schore, the President and CEO of Triton Media Group, said, "This is a very exciting transaction for Triton Radio Networks. Mike Agovino (Triton's COO) joins me in welcoming Jones' employees, advertisers, producers, content providers and station affiliates into the Triton family."

Triton Radio Networks' CEO, Spencer Brown, commented, "The combination of Dial Global and the Jones Media companies underscores our commitment to providing world-class service to our expanded base of valued advertising clients, producer partners and station affiliates. We look forward to helping our partners continue their growth in both network radio and the digital arena."

Effective immediately, Jones Media America will combine with Dial Global under the leadership of David Landau and Ken Williams, Dial Global's co-Presidents/CEOs. Landau and Williams stated, "This transaction dramatically increases the scale and scope of the combined companies' programming and sales options, which will provide our advertising clients with significant and immediate benefits. We are committed to utilizing the company's expanded platform and resources to enhance the services and value we offer our current and future clients."

Jones Radio Networks will merge with Dial Global Programming under the management of Landau and Williams. The combined unit will now offer enhanced syndication, long-form programming, prep services and comedy services. Jones' 24/7 format business will operate alongside Dial Global's existing 24/7 business, which it acquired from Westwood One in 2006. JonesTM, a leading provider of music libraries, imaging products and jingles, will remain a separate reporting unit.

About Triton Media Group:

Triton Media Group (www.tritonmedia.com) is the leading supplier of digital products and interactive applications that enable broadcasters to drive online consumer engagement and revenue generation. Its affiliated partners include Fusion Innovative Marketing, MJI Interactive, Mass to One, Stream the World and Music To Go. The combined offerings deliver services and content designed to expand locally activated digital solutions. Triton Media Group is a portfolio company of certain funds managed by Oaktree Capital Management, L.P., a leading global investment management firm.

About Triton Radio Networks:

Triton Radio Networks (www.tritonradionetworks.com) is a wholly-owned subsidiary of Triton Media Group and is the parent company of Dial Global.

About Dial Global:

Dial Global (www.dial-global.com) is radio's largest full-service, independent radio network, providing national advertising sales representation to over 200 radio programs and networks in addition to Dial Global's own programming and services. Including the Jones Digital Formats and the Dial Global Digital 24/7 Network, Dial Global Programming now produces and syndicates approximately 100 music programs and prep services in a variety of formats to more than 6,000 radio stations nationwide.

Source: Business Wire

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