January 3, 2005

Dennis Hamilton, Erik Langner Join Public Radio Capital

Denver, CO -- Public Radio Capital (PRC), which broadens the reach of public radio nationwide through partnerships with public broadcasters and educational institutions, today named Dennis Hamilton as Senior Consultant and Erik Langner as Project Director for the organization.

Hamilton will work with public broadcasting stations to assess their current operations and to develop growth strategies and business models aimed at channel acquisition. Langner will expand PRC’s capacity to represent public broadcasting companies and educational institutions in acquiring and financing more public radio channels.

Dennis Hamilton has over twenty-five years in senior level management in public broadcasting, developing statewide radio station networks and local, regional and national radio programming. He was previously Vice President of Minnesota Public Radio (MPR) where, as a longtime member of senior management, he helped implement MPR’s dual service strategy by building the biggest regional network in public radio. In the last five years, he has been a consultant in the areas of strategy, leadership, national policy, collaboration, business planning, financial, and broadcasting infrastructure. Hamilton received his BS in Mass Communications from Moorhead State University and his Masters in Public Administration from Harvard.

“We are thrilled to have someone of Dennis’s stature, reputation and accomplishments join us fulltime,” said Susan Harmon, one of PRC’s two Managing Directors. “As his first major focus, Dennis will direct the next round of ‘More Channels, More Service’ readiness projects in 2005. There’s no one in the industry better to do this work.”

Public Radio Capital's “More Channels, More Service,” funded in part by an anonymous grant from a generous donor to PRC, is aimed at helping stakeholders – board members, licensee administrators, and station managers – understand and embrace the public service value of investing in the purchase of radio stations. These stations are used to extend the reach and broaden the audience for vital public radio information and music programming.

Erik Langner is an attorney with extensive transactional experience in private equity fund acquisitions, real estate investments, private and public securities offerings, tax-exemption filings and varied legal responsibilities. Prior to coming to PRC, Langner was an associate at Kirkland & Ellis LLP in New York, and before that an associate at Latham & Watkins LLP in San Francisco. He has a BA in International Studies from The University of North Carolina at Chapel Hill and received his law degree from Northwestern University School of Law. He has served as an intern with the United Nations Office of the High Commissioner for Human Rights, United States Department of State, and World Wide Fund for Nature, International.

“We are proud to bring someone of Erik’s skills into public broadcasting,” said PRC’s other Managing Director Marc Hand in announcing the hiring of Langner. “Erik will be a vital member of the team. He’ll join Robin Miller (hired at PRC last April) and me in managing transactions for PRC’s varied clients.”

Public Radio Capital’s mission is to help strengthen our country’s democratic traditions by protecting and expanding public radio’s critical role as a trusted source of news analysis and to increase the availability of good music on the radio. PRC accomplishes this mission by providing public stations access to urgently needed capital and expertise in preparing for and negotiating station acquisitions. The result of PRC’s work is a measurable increase both in public radio’s audience overall, and in the programming diversity and financial health of local public radio in both large and small markets.

Since its founding nearly four years ago, Public Radio Capital has played a critical role in the preservation and expansion of public radio services. PRC has helped add and preserve public radio stations in Albany, New York; Baltimore, Maryland; Boston, Massachusetts; Chicago, Illinois; Denver and Boulder, Colorado; Nashville, Tennessee; Portland, Oregon; Sacramento, California; Tacoma, Washington; Salt Lake City, Utah; Tulsa and Oklahoma City, Oklahoma; Milwaukee, Wisconsin; and Calexico, California.