Spire Capital invested in Nassau Broadcasting Partners, L.P. in March 2003. Nassau Broadcasting Partners, L.P., a radio broadcasting company, focused on building clusters of local radio stations in demographically attractive areas surrounding major metropolitan markets. At the time of Spire's initial investment, Nassau owned and operated thirteen stations, six FM and seven AM, located in four markets in New Jersey and Pennsylvania. The four markets: Trenton, NJ; Monmouth-Ocean, NJ; Allentown, PA; and Wilkes Barre-Scranton, PA covered approximately 3.1 million listeners. Nassau's stations, due to their strong Class B signals, reached much further than their Arbitron footprints. As a result of this extended reach, Nassau has had considerable success selling into areas outside of its immediate markets and had reached over owning 50 radio stations.
- Date of Initial Investment: 3/13/2003
- Type of investment: Fund I