The sale of the Connecticut School of Broadcasting, Inc. to a new investor group from founder Dick Robinson has closed.
DLJ Growth Capital Partners, a private equity investment affiliate of Credit Suisse, is partnering with Brian Stone and Scott Knight, founders and General Partners of Knightstone Media, to acquire CSB.
Stone and Knight will now manage CSB.
Terms of the deal, first announced in January, were not disclosed.
CSB is the nation's oldest and largest group of communication schools. The company has grown from a single location in 1964 to 13 campuses that prepare students for careers in radio and television broadcasting.
Brian Stone, the new CEO of CSB said he's looking forward to working with the school management and employees and to growing the company while school EVP Scott Knight said they'd be aggressive in pursuit of such opportunities.
Ted Hepburn Company of Palm Beach Florida initiated the deal and represented Dick Robinson and CSB in the negotiations. Dan Duman, president of York Street Partners, advised the buyers.
(Radio World)
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