NAP Closes On Bustos, Launches Adelante
September 27, 2010: Bustos Media in June completes its merger with NAP Broadcast Holdings, a group formed by creditors Newstar Financial, Atalaya Capital, and Prudential and NAP has renamed the company Adelante Media Group. Broadcast Management Technologies CEO Jay Meyers takes the official Adelante CEO title after serving as interim CEO during the merger.
"This is an exciting time for all of stations and all of our employees," Meyers said. "We are backed by a visionary group of owners who are as confident about the upside for this company as I am. Our new name, Adelante, which in Spanish means 'moving forward' and is often used as a greeting when welcoming someone into your home, is a perfect banner to operate under into the future."
The new name was picked from among entries by company employees.
Meyers continued, "We operate in emerging Hispanic markets, and when the new census is finalized, we will be well positioned to take advantage of the growth. The mission is to build a great broadcast company that will serve the fastest growing segment of the population with great Spanish programming."
Adelante is a sponsor of the Radio Mercury Awards, being presented tonight in New York, and will present the award for Best Spanish-Language Commercial.
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