National Media Finalizes $30M Deal With Lehman

Share this article:
Infomercial marketing firm National Media Corp., Philadelphia, this week finalized a $30 million agreement with an investor group led by Stephen C. Lehman. Lehman is chairman and CEO of Premiere Radio Networks Inc., a unit of Jacor Communications Corp. As part of the deal, which still requires shareholder and regulatory approval, he would become chairman and CEO of National Media. A shareholder meeting is expected this fall. About $20 million of the total sum would be invested directly in the company to finance operations, while the remainder would be applied toward acquiring shares of its series D preferred stock. National Media has posted losses for the last year and a half, but has received at least one favorable review from stock analysts. Investment firm Waldron & Co., Irvine, CA, indicated earlier this week that it had issued a "buy" rating on the firm and valued its stock at $8.75 a share. National Media did not return calls for comment, but Lehman issued a statement saying he was pleased that the company's senior managers offered to personally invest more than $5 million in the company.
Share this article:
close

Next Article in News

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

NBA Names Insurance Exec as its CMO

NBA Names Insurance Exec as its CMO

Nationwide and State Farm veteran Pamela El takes the league's marketing helm next month.

Bloomberg Names Bigley CMO

Bloomberg Names Bigley CMO

Communications chief Deirdre Bigley is appointed head of global marketing for the business and financial news company.

2014 Essential Guide to Omnichannel Marketing

2014 Essential Guide to Omnichannel Marketing

The 2014 Essential Guide to Omnichannel Marketing‚ÄĒeverything you need to know about Omnichannel, all in one spot. Read on for insight.