Business
Capital Southwest Supports Coastal Television Broadcasting’s Acquisition of Wyoming Media Group
DALLAS, June 11, 2020 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC), an internally managed business development
About this update from Capital Southwest Corporation
[{"type":"text","content":"DALLAS, June 11, 2020 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported Coastal Television Broadcasting Holdings LLC and its affiliates’ (“Coastal TV” or the “Company”) recent acquisitions of stations controlled by Wyoming Media Group (collectively, “WMG”) with term loans and a revolving credit facility. Capital Southwest led the financing transaction and will act as the sole administrative agent on the credit facilities. Main Street Capital Corporation (NYSE:MAIN) was a co-investor in the credit facilities.\n \"We are excited to partner with the management team at Coastal TV and support its investment in WMG. Bill Fielder, founder and president of Coastal TV, brings extensive experience in the television broadcasting space and we look forward to supporting his Company in its next phase of growth,\" said Josh Weinstein, Managing Director of Capital Southwest. Spencer Klein, Vice President of Capital Southwest, said, “The WMG stations have developed a strong market position in Wyoming and will help diversify Coastal’s broadcast affiliate portfolio. We believe this combination of best-in-class assets will create significant long-term value for all stakeholders.” Founded in 1997 with the acquisition of KFNB, WMG consisted of five stations in the Cheyenne and Casper, WY markets. The coverage extends to the entire state of Wyoming and reaches some rural communities outside of Wyoming. Wyomedia operated KFNB in Casper, WY and KLWY in Cheyenne, WY, which are both FOX affiliates. KLWY also broadcasts ABC programming on its secondary digital channel. Silverton operated ABC affiliates KTWO in Casper, WY, and KKTQ in Cheyenne, WY, which will now be owned by Vision Wyoming LLC. Mark III Media operated the CBS affiliate KGWC in Casper, WY, which will now be owned by Big Horn Television LLC. About Capital Southwest Capital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $272 million in net assets as of March 31, 2020. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle ma...