First Media Corporation
First Media Corporation is an American media company that operates several small local radio and television stations across the nation. It is privately owned by the Marriott family, which is noted for its hotel, restaurant, and catering businesses.[1]
Richard E. Marriott currently serves as the company's chairman of the board.[2]
History
First Media Corporation is a limited partnership with a corporation, in which Richard E. Marriott is the controlling stockholder. While he serves as chairman of the board, his brother J.W. Marriott, Jr., is the executive vice president. As of 1986, they held reverse positions in the Marriott Corp.[3] First Media, however, is considered a personal investment of the Marriott brothers and has no legal relationship with their hotel and restaurant businesses.[1] Other members of the board are part of the Marriott family such as Nancy Peery Marriott and Hardy Marriott.[3]
First Media first purchased a radio station in 1974. The company acquired more local radio stations after, such as WUSN in 1982, which was purchased for $9.2 million (equivalent to $NaN in 2018[4]).[5] First Media's radio group would later include 11 stations. The most successful of these was WZGC-FM in Atlanta. In 1988, First Media Corporation sold all of these.[6]
In May 1986, First Media Corporation bought the Orlando-based WCPX-TV for $200 million (equivalent to $NaN in 2018[4]). This is the first television station acquired by the company.[3] First Media Corporation continues to operate an unknown number of local radio and television stations across the United States.
References
- ↑ 1.0 1.1 Ross, Nancy L. (March 4, 1979). "The Marriotts' Other Empire". The Washington Post. Retrieved February 23, 2023.
- ↑ "Richard Marriott Net Worth". WallMine. February 1, 2023. Retrieved February 23, 2023.
- ↑ 3.0 3.1 3.2 Schwinn, Beth (July 21, 1986). "Marriott Clan Is Expanding Sideline Firm". The Washington Post. Retrieved February 23, 2023.
- ↑ 4.0 4.1 Thomas, Ryland; Williamson, Samuel H. (2019). "What Was the U.S. GDP Then?". MeasuringWorth. Retrieved April 6, 2019. United States Gross Domestic Product deflator figures follow the Measuring Worth series.
- ↑ WEFM (February 13, 1982). New Owners (Billboard). WEFM. Search this book on
- ↑ United States Senate Committee on Commerce, Science, and Transportation, Subcommittee on Communications (1989). Minority Ownership of Broadcast Stations. Washington, DC: Government Printing Office. p. 15. OCLC 681426863. Search this book on
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