TM Century Sold?
Here is a memo that was sent out yesterday by Mr. David Graupner, President/CEO of TM Century, to their partners and clients…
“This morning?s Inside Radio, below, reports that TM Century may be sold to Excelsior. At present, our position is ?no comment?.
However, were something like this to happen, there are a few things that you should know.
1) I have signed a new multi-year deal to run TMC through at least 2009.
2) Excelsior is the parent company of Dial-Global, the X Radio Networks and MJI Interactive. Our relationship with the principals at Dial-Global goes back over a decade. I like them a lot.
3) Excelsior is an extremely well managed company with an eye towards acquisitions?as is TM Century.
4) TM Century has been an enormously successful company, with its stock price rising from 28-cents a few years ago to a 52-week high this year of $3.51. I would expect that any company acquiring TMCI would not want to make any changes to our very successful staff and formula.”
Source: Tracy Carman