Media Conglomerate Selects KC for New Headquarters

Newport Television cites KC’s business-friendly air service and quality of life

August 3, 2007 – KANSAS CITY, Mo. – This just in…Newport Television will locate its headquarters in Kansas City. The company is one of the country’s largest television station groups, employing more than 2,400 employees nationwide. The headquarters will be located at The Cordoba Building on the Country Club Plaza, previously occupied by Saks Fifth Avenue.

Sandy DiPasquale is the President and CEO, and co-founder of Newport Television in partnership with Providence Equity Partners. Mr. DiPasquale and the Newport Television management staff will reside in Kansas City and operate the company’s 56 television stations in 24 markets across the country. The stations are primarily affiliated with the top four networks, ABC, NBC, CBS, and FOX. Newport Television is acquiring the 56 television stations from Clear Channel Television for approximately $1.2 billion. Newport Television will rank as the 14th largest television station group in the United States with annual revenues of approximately $400 million. 

Providence Equity Partners Inc. is the leading global private equity firm specializing in equity investments in media, entertainment, communications and information companies around the world.  Since the firm's inception in 1989, the principals of Providence Equity have managed funds with approximately $21 billion in equity commitments, and have invested in more than 100 companies globally. Significant investments include Bresnan Broadband Holdings, Casema, Com Hem, Digiturk, Education Management Corporation, eircom, Freedom Communications, Idea Cellular, Kabel Deutschland, Metro-Goldwyn-Mayer, Ono, Open Solutions, PanAmSat, ProSiebenSat.1, Recoletos, TDC, Univision, VoiceStream Wireless, Warner Music Group, Western Wireless and Yankees Entertainment and Sports Network. Providence Equity is headquartered in Providence, RI and has offices in New York, London, Hong Kong, and New Delhi.

Mr. DiPasquale has cited the region’s business-friendly air service and quality of life as key to the decision. Kansas City International Airport offers non-stop flights to nine of the 24 markets owned by Newport Television. Many of the region’s cultural and entertainment improvements and the low cost of living will make it an attractive location for the highly skilled professionals that will staff the new company.

The Kansas City Area Development Council worked closely with the Economic Development Corporation of Kansas City, Missouri; the State of Missouri; Highwoods Properties, Inc.; Reece and Nichols Realtors; Kessinger/Hunter & Co., Inc.; and Kansas City Power & Light to solidify Newport Television’s plans to move to the KC region.