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Newport Television is a newly created television broadcast company founded by Sandy DiPasquale and Providence Equity Partners to acquire Clear Channel Television, a 56 station television group in 24 markets across the country. The stations are primarily affiliated with the top four broadcast networks, ABC, NBC, CBS, and FOX. Newport Television will be the 14th largest television station group in the United States with annual revenues of approximately $375 million. Newport Television will be the second partnership between Mr. DiPasquale and Providence Equity Partners.
Mr. DiPasquale is an experienced broadcaster and businessman who has founded and operated several successful television broadcast groups, and has held senior positions in the television broadcast industry for more than 25 years.
Providence Equity Partners Inc. is the leading global private equity firm specializing in equity investments in media, entertainment, communications and information companies around the world. The principles of Providence Equity manage funds with approximately $21 billion in equity commitments and have invested in more than 100 companies globally since the firm’s inception in 1989. Significant investments include Bresnan Broadband holdings, Casema, Com Hem, Digiturk, Education Management Corporation, eircom, Freedom Communications, Idea Cellular, Kabel Deutschland, Metro-Goldwyn- Mayer, Ono, Open Solutions, PanAmSat, ProSiebenSat.1, Recoletos, TDC, Univision, VoiceStream Wireless, Warner Music Group, Western Wireless and Yankees Entertainment and Sports Network. Providence Equity is headquartered in Providence, RI (USA) and has offices in New York, London, Hong Kong, and New Delhi.
Newport Television will operate 56 television stations in 24 markets nationwide with multiple network affiliates including ABC, NBC, WB, UPN, and Telemundo. Newport Television will be headquartered in Kansas City Missouri on the Country Club Plaza and will be the main office for more than 2000 employees nationwide.
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