Solidifying its position as an aggressive player in the radio networks business, Triton Radio Networks, a wholly owned subsidiary of Triton Media Group, announced Friday (June 20) it had acquired Jones Media Group and its operating companies, from Jones International, for undisclosed terms.
The acquisition, which includes ad sales rep firm Jones Media America, Jones Radio Networks and JonesTM, expands Triton's programming and sales representation footprint to rub elbows with the three long-time stalwarts in network radio, ABC Radio Networks, Premiere Radio Networks and Westwood One.
It's the second major acquisition for Triton Media Group, a subsidiary of Oaktree Capital, which purchased Excelsior Radio Networks in February. That deal helped grow Triton's suite of digital and interactive products and services.
The new assets for Jones will pair up nicely with Triton's. On the network representation side, Jones Media America will be merged with Dial Global. On the programming side, Jones Radio Networks will merge with Dial Global Programming. Both combines divisions will be managed by David Landau and Ken Williams, Dial Global's co-presidents and CEO.
With the acquisition, Dial Global adds a number of premium Talk show programs to its portfolio, such as Stephanie Miller and Clark Howard and Neal Boortz (produced by Cox Radio). It also adds two RADAR-rated networks, Jones' top-rated Adult Power network and Female Perspective network.
In addition, Jones has an extensive 24/7 format business that will be combined with Dial Global's existing 24/7 formats which it acquired from Westwood One in 2006.
"It's a perfect synergistic fit," said Landau. "We'll combine the 24/7 networks to create more RADAR-rated networks."
JonesTM, a provider to radio stations of music libraries, imaging products and jingles, will remain a separate unit.
No word on whether Gary Schonfeld, the president of and co-founder of Jones MediaAmerica will remain with the new merged network.