Pappas Telecasting announced it has retained the investment banking firm Media Venture Partners (MVP) to help with strategic options. These options include “joint ventures, sale of KAZH-TV Houston and KAZA-TV Los Angeles, or a strategic alliance with Spanish-language content suppliers and equity investors,” the company said in a release.
Pappas Chairman and CEO Harry J. Pappas stated, “The burgeoning Hispanic media sector represents opportunities for substantial capital asset appreciation. Working with Media Venture Partners, we intend to assure that our companies’ economic interests are maximally served by thoroughly assessing all opportunities.”
Pappas, based in Visalia, Calif., owns 27 stations