NextMedia Group’s Executive Chairman Carl E. Hirsch Steps Aside to Form New Venture

LOS ANGELES--(BUSINESS WIRE)--Carl E. Hirsch, co-founder and executive chairman of NextMedia Group, Inc. (“NextMedia”), has resigned his position as an officer and director of the company to explore new opportunities and participate in the formation of new ventures in radio, television and other media sectors. Hirsch has also sold his financial interest in the company.

“Throughout my entire business career, I have most enjoyed the process of creating and building media businesses”

Hirsch’s departure was amicable and in keeping with his career path as a business creator and builder in various aspects of media including radio, television, outdoor advertising and the communication tower businesses.

“Throughout my entire business career, I have most enjoyed the process of creating and building media businesses,” said Hirsch. “NextMedia is well managed and doing very well and so this is a good time for me to move on to yet another new venture where I may create value for investors as I have done many times in the past.”

NextMedia, founded in 1999, is a diversified out-of-home media company headquartered in Denver, Colorado. Through its subsidiaries and affiliates, NextMedia owns and operates radio stations in numerous markets throughout the United States as well as outdoor bulletin and poster advertising displays in a number of U.S. markets.

From 1997 to 1999, Mr. Hirsch was co-founder, President and Chief Executive Officer of OmniAmerica, Inc. (NASDAQ:XMIT), a telecommunications tower and infrastructure provider which he merged with American Tower Corp. (NYSE:AMT).

From 1991 to 1997, Mr. Hirsch was the founder, Chairman and CEO of OmniAmerica Group, a multi-market radio station group owner.

From 1986 to 1990, Mr. Hirsch was co-chairman, President, and CEO of Legacy Broadcasting (and concurrently Metropolitan Broadcasting), a broad-based national radio station group which merged with Westinghouse Broadcasting in a then record-setting financial transaction.

From 1974 through 1985, Mr. Hirsch was with Malrite Communications Group (NASDAQ:MALR) where he was President and Chief Operating Officer of the radio, television, and cable operator.

Mr. Hirsch currently serves on the Leadership Board of the Cleveland Clinic's Taussig Cancer Center, and on the board of the Palm Beach International Film Festival. He has served as a director of the National Association of Broadcasters and the Radio Advertising Bureau, and has been a significant contributor to the Museum of Television and Radio, Kent State University, the Broadcast Education Association and the Rock and Roll Hall of Fame and Museum. In 2000, Mr. Hirsch was awarded the honorary degree of Doctor of Humane Letters by his alma mater, Kent State University. He was inducted in the Cleveland Broadcasting Hall of Fame.

A native of Shaker Heights, Ohio, Carl attended Ohio State and Kent State Universities. He currently resides in Palm Beach, Florida and Beverly Hills, California.