|By PR Newswire||
|January 21, 2014 01:15 PM EST||
TAMPA, Fla., Jan. 21, 2014 /PRNewswire/ -- Tampa-based transaction advisory firm, LCG Advisors, was tapped to secure a new financial partner for Times Publishing Company, the Publisher of the Tampa Bay Times, TBT, and Florida Trend and the owner of TampaBay.com and PolitiFact.com. Proceeds from the $28.0 million term loan were used to refinance existing debt and to provide incremental liquidity for strategic growth initiatives.
"We selected LCG for their reputation as a trusted, local advisory firm with extensive reach into national credit markets," said Jana Jones, CFO, Times Publishing Company. "Their ability to leverage existing relationships coupled with their previous transaction experience with lenders allowed us to align with the financial partner best suited assist the Times in achieving its long term goals."
"LCG completes 100's of advisory engagements each year, but we take particular pride in this capital raise given the standing in the community of the Times and its executive team and their national recognition for excellence in journalism," said Brian Smith, Managing Partner, LCG.
LCG maintains a relatively low profile in these types of transactions, but the firm is frequently involved in high profile transactions nationally and has played a role in several media-related financing deals including the recent sale of the Boston Globe by the New York Times.
About LCG Advisors: LCG Advisors ("LCG") assists growth-oriented businesses, financial institutions, and individual executives and business owners in a wide range of assignments including corporate debt placements, mergers and acquisitions, due diligence, leveraged buyouts, and private wealth management. Headquartered in Tampa, Florida, LCG consists of Lender's Consulting Group, LLC, LCG Private Client Group, LLC, LCG Capital Advisors, LLC (a Finra/SIPC registered broker-dealer). The company has a reputation for serving as the trusted advisor to its clients on complex transactions and has established relationships with some of the nation's largest capital providers, including banks, specialty finance companies, hedge funds and private equity firms. For more information regarding LCG, please call (813) 226-2800 or visit http://www.lcgadvisors.com.
About Tampa Bay Times The Times Publishing Company is a diversified media enterprise based in the Tampa Bay area. Its leading publications include the Tampa Bay Times and Florida Trend business magazine, and its online properties include TampaBay.com and PolitiFact.com.
MEDIA CONTACT: Kenneth Cowan
Phone: (813) 226-2800
SOURCE LCG Advisors