MediaCo Holding Inc. Announces Share Repurchase Program

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December 21, 2022 08:04 AM Eastern Standard Time

NEW YORK–(BUSINESS WIRE)–MediaCo Holding Inc. (NASDAQ: MDIA) announced today that its Board of Directors has authorized a program to repurchase shares of the Company’s Class A Common Stock, par value $0.01 per share (the “Common Stock”) constituting, in the aggregate, up to an amount not to exceed $2 million. The program is effective immediately. Shares of the Common Stock may be repurchased in the open market or through negotiated transactions. The program may be terminated or suspended at any time at the discretion of the Company. The Company may in the future enter into a Rule 10b5-1 trading plan to effect a portion of the authorized purchases, if criteria set forth in the plan are met. Such a plan would enable the Company to repurchase its shares during periods outside of its normal trading windows, when the Company typically would not be active in the market.

The time of purchases and the exact number of shares to be purchased will depend on market conditions. The repurchase program does not include specific price targets or timetables and may be suspended or terminated at any time. The Company intends to finance the purchases using available working capital.

About MediaCo Holding Inc.: MediaCo Holding Inc. (“MediaCo”) is a publicly listed media company (NASD: 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.

Forward-looking Statements: This press release contains forward-looking statements including, among other things, statements regarding our intended share repurchase program. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Since forward-looking statements relate to the future, they are subject to risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission (“SEC”), including our Form 10-K for the fiscal year ended December 31, 2021, and subsequent periodic reports that we have filed with the SEC from time to time, which could cause actual results to vary from expectations. MediaCo assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.

MEDIACO APPOINTS NEW EXECUTIVE TEAM TO LEAD STRATEGIC REALIGNMENT AND INNOVATION

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RAHSAN-RAHSAN LINDSAY NAMED CHIEF EXECUTIVE OFFICER OF MEDIACO: HOT 97, WBLS, AND FAIRWAY OUTDOOR; BRADFORD TOBIN NAMED PRESIDENT AND COO

Company Appoints New Seasoned Leadership in Key Roles to Fuel Growth and Continued Service to Black Culture and the Hip Hop Community

(New York, NY) – June 10, 2021 – MediaCo Holding Inc. (NASDAQ: MDIA), owner of HOT 97, WBLS, and Fairway Outdoor, announced today that Rahsan-Rahsan Lindsay has been named Chief Executive Officer, effective July 1, 2021. Mr. Lindsay most recently served as Executive Vice President, Urban One. He brings over twenty years of successful leadership experience across media, television, and advertising to MediaCo. As CEO, Lindsay will be responsible for setting MediaCo’s overall strategic vision and expanding its radio and outdoor divisions with an emphasis on transforming the digital business.

“Rahsan-Rahsan is a talented and dedicated leader with the right strategic vision, relentless drive, and passion for media required to lead the MediaCo team at this critical time. He forged his career at the intersection of technology and media, and his vast experience and keen perspective will be invaluable in taking the company into the future,” said MediaCo Board Director Laura Lee.

Lindsay has spent the past nine years at Urban One, Inc., where he oversaw advertising sales, integrated marketing, and sales operations for TV One and sister network CLEO TV, which he helped launch in 2019. In 2020, he took over the role as head of iOne Digital ad sales and One Solution, Urban One’s cross-platform marketing group, as well as One X Studios, the branded content production arm of Urban One. Prior to joining TV One in 2011, Lindsay spent nearly eight years in Ad Sales for Viacom Media Networks, focused on new business development for MTV, Comedy Central, Spike, CMT, and TV Land. He also served as VP of Ad Sales for MTV2, mtvU, and Palladia.

Passionate about serving the community and grooming the next generation of leaders, in his spare time Lindsay serves as the co-chair of the Board of Directors for The Brotherhood/Sister Sol, a Harlem-based nonprofit organization.

“The opportunity to work with iconic brands like HOT 97 and WBLS is just too good to pass up,” said Lindsay. “I see a number of potential ways to further cultivate both brands, build on their well-established legacies, and drive new revenue streams. I’m also energized by the opportunity to leverage the Fairway footprint in a way that helps fulfill the MediaCo mission to connect with broader audiences.”

MediaCo’s newly formed senior management team is poised to drive future success, comprised of capable leaders who bring a collaborative spirit and a necessary focus on future strategy. As part of MediaCo’s strategic realignment, Bradford Tobin was also recently named President and Chief Operating Officer.

“Brad is a seasoned and trusted leader who consistently delivers results.  He is uniquely qualified to drive strategic prioritization and accountability within MediaCo, with a laser focus on operational excellence,” said Soo Kim, MediaCo’s lead investor.

Prior to joining  MediaCo in August 2020, Tobin served as General Counsel/Chief Compliance Officer for Standard Diversified Inc., and General Counsel/SVP for RadioShack, where he established a proven track record for building and managing high-growth sales organizations. In his current role, Tobin leads business operations for MediaCo, including rapidly scaling digital capabilities and aligning the organization’s innovation engine.

“I’m proud to be a part of MediaCo’s executive team and thrilled to help lead the company into its next phase of innovation as we focus on building a 360 media experience for consumers,” said Tobin.

For more information on MediaCo or to inquire about press opportunities, please contact press@hot97.com.

ASSETS: Headshots and executive bios are available here.

#MEDIACO #HOT97 #WBLS

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ABOUT HOT 97: HOT 97 (WQHT 97.1FM) is the world’s first all Hip-Hop station and has held the dominant position in New York for over twenty years.  HOT 97 is best known for its celebrity on air talent, such as Ebro Darden, Funk Flex, and Nessa, as well as being the world’s premier source for Hip Hop music culture, both on air and online at HOT97.com and its mobile app. Follow us on facebook.com/HOT97official, twitter.com/HOT97, instagram.com/HOT97, and youtube.com/HOT97.

ABOUT WBLS: (WBLS 107.5FM) WBLS is the #1 source for R&B music and contemporary Black culture. Known as the world’s best-looking sound, this timeless brand has led the conversation in the Black community as the go-to source for news, lifestyle, advice, and Gospel since 1972. The station’s roster of world-renowned personalities include Steve Harvey, Shaila, Deja Vu, and Lenny Green, as well as legendary DJs Red Alert, Scratch, and Chuck Chillout, who bridge the gap across generations and around the world!

ABOUT MEDIACO: MediaCo Holding Inc. (“MediaCo”) is a publicly listed multimedia company (NASDAQ: MDIA) that serves communities throughout the country. MediaCo owns and operates two of the top urban radio stations in New York City, HOT 97 and WBLS, as well as an out-of-home advertising business with over 3,500 faces throughout the Southeastern U.S. The company primarily generates revenue from advertising sales and events.

 

 

NOTICE OF CHANGE OF LOCATION OF 2020 ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON THURSDAY, MAY 14, 2020

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For Immediate Release
Thursday April 30, 2020

New York … MediaCo Holding Inc. (the “Company”) (Nasdaq: MDIA), today announced that, due to the continuing coronavirus (COVID-19) pandemic and out of concern for the health and safety of our shareholders and other possible attendees at our 2020 Annual Meeting of Shareholders (the “Annual Meeting”), the Annual Meeting will be held in a virtual-only format, instead of as an in-person event in New York City as originally planned. The Annual Meeting will still be held at the previously-announced time and date of 9:00 a.m., Eastern, on Thursday, May 14, 2020.

Shareholders of record and beneficial holders of common stock as of the close of business on March 9, 2020 (the “Record Date”), will be entitled to participate in the Annual Meeting via a toll-free conference call at 9:00 a.m., Eastern, on Thursday, May 14, 2020. To participate in the Annual Meeting, shareholders will need to dial 1-517-623-4891 and enter passcode 5295370. Participation through this dial in number will enable shareholders to hear the proceedings of the meeting, but will not permit shareholders to vote or change their vote at the meeting.

Accordingly, the Company strongly recommends all shareholders as of the Record Date vote their shares in advance of the Annual Meeting by submitting their proxy by completing, signing, dating and mailing the previously provided proxy card; by voting via the Internet at www.proxyvote.com; or by calling the toll-free telephone number listed on the proxy card, (800) 690-6903.