Updated: Katz to Rep Lincoln Financial, Beasley Stations

Interep’s former top radio group clients are signing with Katz Media Group. On Monday (Dec. 1), Katz announced that Katz Radio Group will represent Lincoln Financial Media’s 15 radio stations in Atlanta, Denver, Miami and San Diego and Beasley Broadcast Group’s 44 stations in 11 markets.

The two new Katz clients join CBS Radio and Entercom Communications, Interep’s two largest clients, which signed with Katz on Nov. 25. The agreements were made possible by the U.S. Bankruptcy Court for the Southern District of New York, which allowed Katz to negotiate for Interep’s clients in exchange for $3.6 million cash to Interep.

Other Interep radio clients, such as Spanish Broadcasting System, have yet to make a decision about their national sales representation.

Interep filed in late October to convert its bankruptcy Chapter 11 status to Chapter 7 liquidation in order to pay the company’s debtors. Its financial demise leaves Katz as the sole national sales representation firm. The only other potential competitor, Local Focus, primarily represents smaller market stations and lacks the major market marquee client list of Katz.

Not all of Interep’s assets have been sold. The rep firm still has a small group of TV station clients, and an interactive division. Interep trustee Kenneth Silverman filed to sell Interep Interactive to Mission Media Group, unless a higher bid comes in before Dec. 9. Mission Media is already operating the division under a temporary management agreement.