Standard Radio buys 25% of U.S. broadcaster Martz
TORONTO - Standard Broadcasting Ltd. and Martz Communications Group, LLC today announced that Standard Radio has acquired a 25% minority interest in Martz.
Reno, Nev.-based Martz currently operates nine U.S. stations, all in upstate New York.
Toronto-based Standard Radio operates 51 stations across Canada, in most major centres, such as Toronto, Ottawa, Montreal, Winnipeg, Edmonton, Calgary and Vancouver.
"Martz pioneered U.S.-to-Canada border radio in 1985 with WDHP Presque Ile, Maine and WYSS Sault Ste. Marie, Michigan, and has operated as many as twenty-two radio stations in Michigan, New York, Maine and Wisconsin," says the press release issued by the two companies today.
Gary Slaight, president and CEO of Standard Broadcasting, said the agreement is a major step forward for Standard Radio. "This investment represents a platform for Standard Radio to invest in and enter the radio broadcasting business in the United States," he said.
"The relationship with Canada's most successful radio group provides us with the financial support and operational expertise to become a much larger player in the U.S.," said Tim Martz, president and CEO of Martz Communications.
Standard Radio's national rep firm, Integrated Media Sales, will represent all Martz stations in respect to their overflow audience in Canada.
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