February 10, 2020
MSouth Announces Successful Exit of 10 Television Stations
Atlanta, GA (February 10, 2020) – MSouth Equity Partners, an Atlanta-based private equity firm, announced the sale of 10 television stations to Entertainment Studios. The stations, formerly part of MSouth’s USA Television and USA Television MidAmerica platforms, serve small to mid-sized cities (spanning markets ranked No. 79 to No. 188 in the U.S.) and have network affiliations with ABC, CBS, NBC and Fox.
“We are very pleased with the result of our investment in USA Television and USA Television MidAmerica,” said Barry Boniface, an MSouth Partner. “Backing a seasoned management team with deep experience in the local television space was critical to the value creation we experienced during our investment”
“I have known Byron Allen for decades and we are delighted that these stations will now be part of his dynamic company, and that Heartland management will continue to guide them,” USA Television CEO Robert S. Prather Jr. said.
MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued between $25 and $200 million. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of business services, specialty distribution, niche manufacturing, healthcare services and telecommunications/media companies. With over $2.2 billion under management across four funds, MSouth is a successor to Cravey, Green & Wahlen, Inc., which was founded in 1984.