On Thursday, SummitMedia announced that shareholder and private investor Jon Kelly reached an agreement to purchase the controlling interest in the company held by Highpoint Holdings. And with Highpoint Holdings no longer in the picture, and Kelly and CEO Carl Parmer the two main players in the company, you can certainly expect to see them grow Summit, when stations that fit into their game plan become available.
SummitMedia CEO Carl Parmer said, “Jon has been our largest individual shareholder since inception and we are delighted he will become our controlling shareholder pending FCC approval. Not only is he a good friend, but he and his family have a long and incredibly successful history in broadcasting in the United States. His commitment to SummitMedia positions us to take advantage of strategic opportunities and grow our platform in the years ahead.”
Garret Komjathy, Senior Vice President, U.S. Bank, Media, Communications and Beverage Division stated, “Given U.S. Bank’s long-standing relationship with SummitMedia, we are very pleased to continue our relationship and support of SummitMedia and its investor group. We are looking forward to this next phase in SummitMedia’s growth and expansion.”
