Private Equity Firms to Acquire Majority Stake in Pittsburgh Broadcast Firm NEP.

From: Pittsburgh Post-Gazette (Pittsburgh, PA) | Date: April 13, 2004 | Copyright information

Byline: Len Boselovic

Apr. 13--Two private equity firms said yesterday that they would purchase controlling interest in NEP Broadcasting, a Harmar company that helps networks broadcast the Super Bowl and other major sporting events.

Apax Partners and Spectrum Equity Investors will acquire the majority stake in NEP from Wachovia Capital Partners, which became a major investor in the venture in 2000.

NEP President Peter Michel declined to comment on the terms of the transaction or disclose NEP's annual revenue.

He said the business had an enterprise value of $320 ...

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