CHICAGO (AdAge.com) -- Radio sales rep company Excelsior Radio Networks acquired rep firm Dial Communications and will merge Dial into its Global Media Division to form Dial Communications-Global Media.
Terms of the deal were not disclosed.
Excelsior, which provides sales representation for more than 25 independent radio production companies whose programs are distributed to radio stations nationwide, is a subsidiary of Franklin Capital Corp.
The company expects the merged entity to achieve ad sales revenue of $50 million this year.
By comparison, the industry's leading sales rep firm, Interep National Radio Sales, which is the exclusive sales arm for more than 2,000 radio stations nationwide, last month reported 2001 revenue of $101.8 million. That figure was down 5% from $107 million the previous year due to the weak ad market.