| Proposed Ticker: CMIA | 500 Fifth Avenue, Suite 3000 | |
| Exchange: NASDAQ-National Market | New York, New York 10110 | |
| Industry: Service | (212) 302-2727 |
| All share information is proposed | ||||
| Type of Shares: | Class A Common Shares | Filing Date: | 5/17/96 | |
| U.S. Shares Filed: | 4,300,000 | Filing Price: | - | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $0 | |
| Primary Shares: | 2,882,143 | Expenses: | - | |
| Secondary Shares: | 1,417,857 | Shs Out After: | 6,823,244 | |
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 504-4525 |
| CIBC Wood Gundy Securities Corp. | Co-manager | |
| CS First Boston | Co-manager | (212) 909-3312 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/26/95 | 3/31/96 | ||
| Revenue: | $33.65 | $8.05 | $6.51 | Assets: | $63.21 |
| Net Income: | -$2.24 | -$1.44 | -$0.59 | Liabilities: | $83.20 |
| EPS: | Equity: | -$19.99 | |||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Commodore Media, Inc. owns and operates, or provides sales and marketing services for 33 radio broadcasting stations (nineteen FM and fourteen AM stations) in six medium-sized markets. The Company is the leading radio group on a pro forma basis in five of its six markets based on radio advertising revenue and is the leading radio group in each of its six markets based on audience share. The Company's average radio revenue share in its markets was 45.1% in pro forma 1995, which the Company believes is the highest average radio revenue share of any public radio broadcasting company in the United States. The Company's radio stations are located in the following markets: Fairfield County, Connecticut; Allentown, Pennsylvania; Wilmington, Delaware; Westchester/Putnam Counties, New York; Ft. Pierce-Stuart-Vero Beach, Florida (the "Treasure Coast Market") and Huntington, West Virginia/Ashland, Kentucky. The Company believes that operating radio stations in medium-sized markets offers significant opportunities to apply its programming, marketing and broadcasting expertise to increase broadcast cash flow and to establish a dominant market position that would be difficult for a competitor to replicate. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay existing indebtedness, to redeem the Company's outstanding shares of Series A Preferred Stock, to finance a portion of the Huntington Acquisitions and to pay deferred compensation. |
©1996 IPO Data Systems, Inc. - All rights reserved.