United States Traffic Network President Ivan Schulman led the effort to buy out the broadcast-traffic provider, whose products are used by more than 1,100 TV and radio stations, and which has 260 full- and part-time employees. The terms of the deal were not disclosed.
USTN was in the news a few days ago, when Entercom CEO David Field reported his company’s earnings, that USTN had been unable to pay its bill of $4 million to Entercom and had been having “significant financial issues.”
Shulman, who’ll be chairman and CEO of the new USTN, said of the buyout, “I have been working in lockstep with my management team to ensure a smooth transition from an international ownership group to a U.S.-based team with deep ties to both the broadcasters and advertisers.” He also said that, for customers and partners, it will be “business as usual.”
Also on the new leadership team are SVP/Operations & TV David Waskiewicz, SVP/Sales Brian Willner, and SVP/Financial Planning & Analysis Christine Nugent.