BMP Radio, also known as Border Media Partners, was a privately owned Hispanic focused radio broadcasting company headquartered in
Houston, Texas
Houston ( ) is the List of cities in Texas by population, most populous city in the U.S. state of Texas and in the Southern United States. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the county seat, seat of ...
. On July 17, 2009, ''Radio-Info.com'' announced that BMP would be seized by its banks after failing to make debt payments for two years. Ten days later, it was confirmed that
Goldman Sachs Group
The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many international ...
,
Vestar Capital Partners
Vestar Capital Partners is an American private equity firm focusing on leveraged buyout transactions in middle-market companies in the United States.
The firm, which was founded in 1988, is headquartered in New York City with offices in Boston, Ma ...
, and D.B. Zwirn & Co. seized the business and the assets are expected to be liquidated.
It was reported that President Jeff Hinson was expected to step down by July 31.
This occurred as expected, and station owner and station broker Larry Patrick was named trustee and engaged to dispose of the stations and return any monies to the lenders.
During the 2009 Texas Association of Broadcasters meeting in Austin, Texas it was reported that the McAllen and Laredo area stations would be assigned to a U.S. affiliate of the companies that own the Mexican stations programmed by BMP; this happened in 2012 when the stations were sold to
R Communications. The stations in Waco were sold to the Bill McCutcheon interests, while REO Radio Group acquired its stations in Austin.
In October 2013, the last of BMP, the cluster in San Antonio, was sold to Larry Wilson's L&L Broadcasting for $31M.
References
External links
BMP Radio
Companies based in Dallas
Defunct radio broadcasting companies of the United States
{{Texas-radio-station-stub