Media All-Star: Tom Castro

NEW YORK Tom Castro admits his radio career began as a "fluke" in 1979, at age 25. The opportunity to buy a station in Phoenix fell into his lap when the still-unknown Tichenor radio family was in the market to unload a Hispanic radio station. At the time, the Tichenors did not believe that Spanish-language radio had a future. (McHenry Tichenor Jr. would later be instrumental in the development of Latin radio and preside over Hispanic Broadcasting Corp., which would become Univision Radio.) Castro had invested in an oil field equipment company, but didn't think twice and pooled resources and contacts to buy the station. Nearly 30 years later, Marketing y Medios' All-Star in Radio is vice chairman of the board of Border Media Partners (BMP), the radio group he founded in 2002, and much closer to his vision to create "the cluster of the future," a radio company that addresses the needs not only of Spanish-speaking Hispanics, but also English-dominant and bilingual Hispanics. Houston-based BMP is the largest privately owned Hispanic radio company in the country, with businesses in Texas. With an initial investment of $275 million from private equity firms, BMP owns 35 stations in San Antonio, McAllen/Brownsville, Laredo, Waco and Austin, and acquired, in August 2006, English-language stations KTSA-AM and KJXK-FM in San Antonio from CBS Radio for $45 million in cash. Out of the total stations, 22 air in Spanish.BMP made radio history earlier this year when regional Mexican outlet KHHL "La Ley" in Austin ranked No. 1 for persons 12+ in Arbitron's Fall 2006 survey, with a 6.4 share; it also took No. 1 in the 18-34 demo with an 11.5 rating."La Ley" beat Univision's only station in the market at the time, adult hits KINV "Recuerdo," which had dropped the regional Mexican format in March 2006 in favor of an oldies format. Though Univision launched regional Mexican KLQB "La Que Buena" in February to compete against "La Ley" in the Austin market, Castro is confident his station's winning streak will continue.It's his ability to make things happen that makes Castro a force to be reckoned with, colleagues say. Mary Hawley, president of Lotus Entravision Reps, a national advertising sales force for Hispanic radio stations, says Castro uses his clout to ensure his radio listeners' voices are heard."He has opened the doors about the Hispanic growth in Texas and beyond," the Los Angeles-based Hawley says.She also credits Castro with reaching out and educating marketers to the fact that the future of Hispanic radio is now. There's no need to wait for the 2010 U.S. Census to invest in the market, Hawley says.With plans to double the size of BMP in one to two years, Castro is heeding his own advice.In June, he recruited Jeffrey T. Hinson, a former Univision Communications executive vice president and CFO, to take over as BMP president and CEO. While Hinson handles the day-to-day operations, Castro will focus on the company's radio expansion to other markets, as well as other media, such as television and online."There's never been a better time to be a buyer because there are more stations for sale now than ever in the history of the radio business," Castro says.To facilitate that growth, Vestar Capital, Goldman Sachs and Darby Overseas Investments, already BMP investors, injected an additional $111 million into the company in May.Peter Davidson, president of Davidson Media Group, isn't surprised at BMP's current status and growth potential. He lauds Castro's ability to raise equity capital and "sell the vision of Hispanic radio to a lot of the guys who control the money."A Harvard graduate, Castro, 52, has many admirers within Hispanic radio. Friend and colleague Amador Bustos, president and CEO of Bustos Media, a Hispanic radio group based in Sacramento, Calif., describes Castro as "a successful entrepreneur, an assertive and straightforward individual, which can often be misunderstood as intense."Called a "visionary" by other competitors, Castro's accolades include winning Radio Ink's first ever Medallas de Cortez award earlier this year in the Broadcaster of the Year category. He beat out such industry vets as Univision Radio president and COO Gary Stone, Clear Channel svp of Hispanic Radio Alfredo Alonso and Davidson, among others.Beyond his professional success, which includes sitting on Time Warner Cable's board, Castro's legacy is his commitment to the Hispanic community. He says he would not feel fulfilled if he couldn't dedicate time to Latino organizations such as the National Council of La Raza and the New America Alliance."It turns out that radio for me was a way to mesh together two things I wanted to do," Castro says. "Be involved in business and be involved in helping the Latino community."

Brand Marketing

Media All-Star: Tom Castro

Jackie Madrigal, Radio

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Jackie Madrigal, Radio