Capital Southwest supported Coastal Television Broadcasting Holdings and its affiliates’ recent acquisitions of stations controlled by Wyoming Media Group with term loans and a revolving credit facility. Capital Southwest led the financing transaction and will act as the sole administrative agent on the credit facilities. Main Street Capital was a co-investor in the credit facilities.
“We are excited to partner with the management team at Coastal TV and support its investment in WMG,” Josh Weinstein, managing director of Capital Southwest, said. “Bill Fielder, founder and president of Coastal TV, brings extensive experience in the television broadcasting space and we look forward to supporting his company in its next phase of growth.”
“The WMG stations have developed a strong market position in Wyoming and will help diversify Coastal’s broadcast affiliate portfolio,” Spencer Klein, vice president of Capital Southwest, said. “We believe this combination of best-in-class assets will create significant long-term value for all stakeholders.”
Founded in 1997 with the acquisition of KFNB, Wyoming Media Group consisted of five stations in the Cheyenne, WY, and Casper, WY, markets.
Founded in 2008 and headquartered in Anchorage, AK, Coastal Television Broadcasting Holdings is engaged in the operation and acquisition of television broadcasting stations located in mid-to-small sized markets.
Capital Southwest is a Dallas-based, internally managed business development company with approximately $272 million in net assets as of March 31, 2020. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 million to $25 million investments across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments.