RELATED: Sandton assumes FLS assets
AS MANY of you have read, an affiliate of Sandton Capital Partners, DSP Acquisition LLC, has acquired the assets of The Free Lance–Star Publishing Co.
Previously, we were The Free Lance–Star’s lender after buying the loan from BB&T. After The Free Lance–Star filed for bankruptcy protection in January of this year, an open and competitive auction was held for all of The Free Lance–Star’s assets. Because of our strong belief in the value of The Free Lance–Star companies and employees, we submitted the highest offer for the assets and prevailed as the buyer.
We at Sandton Capital Partners want to take this opportunity to introduce ourselves to the greater Fredericksburg community. Sandton Capital Partners is a firm composed of professionals focused on making credit investments throughout the United States and Western Europe.
Our firm was founded in 2009 and has since acquired over $1 billion in loans. We take pride in our track record of working with the management of companies that have financial difficulties. Many of our borrowers have come back from grim prospects to be thriving and profitable entities while we served as their lender.
We also wanted to comment briefly on the history of The Free Lance–Star companies and our vision for the future. Your community has been well served by the Rowe family and their stewardship of The Free Lance–Star businesses (now including The Free Lance–Star newspaper, Print Innovators, WFLS, WVBX, WWUZ, WNTX and more) for over 100 years.
We do not take on this legacy lightly. The Free Lance–Star’s value in the community was a significant factor attracting us. We view it as critical to the success of our investment that The Free Lance–Star companies continue to be the go-to, trusted resource for news, commentary and entertainment in Fredericksburg and the surrounding counties.
To perpetuate that legacy, we offered employment to all of The Free Lance–Star’s current employees. These employees are your neighbors, your friends and perhaps even your family.
Many of you already know this, but we at Sandton Capital Partners want to emphasize what a tremendous job The Free Lance–Star employees have done to continue to produce and deliver high-quality content throughout a difficult period in the company’s proud history. We consider ourselves very fortunate to be associated with such a hardworking and dedicated group of employees.
For you, the readers and listeners, you can expect the same high standards of quality delivered reliably to your doorstep, Internet device and radio every day.
With the rapid advances in technology our society is experiencing, these are challenging times for traditional media providers; The Free Lance–Star has not been immune to these challenges. However, we believe strongly in the persistent importance of community media providers like The Free Lance–Star.
As long as we can continue to meet the needs of this community, there will be a viable business model for newspaper and radio. We are confident that, with the help and input of The Free Lance–Star employees, advertisers, readers and listeners, we can continue to do that.
Your feedback is important to us as we strive to meet these goals. Please let us know how we’re doing.
Robert (Rob) Orr
Sandton Capital Partners