DBBC

AcronymDefinition
DBBCDouble Bay Bridge Centre (Double Bay, New South Wales, Australia)
DBBCDeschutes Basin Board of Control (Oregon)
DBBCDatabase Consistency Checker
DBBCDiversity in Barrier-Breaking Communications (UK)
DBBCDavid Brown Book Company (Oakville, CT)
DBBCDallas Barnhartvale Baptist Church (Canada)
References in periodicals archive ?
Concurrently with the completion of the Aurora and DBBC acquisitions on March 28, 2002, the Company completed the arrangement and syndication of a $400.
The proceeds from the new credit facility, which closed on March 28, 2002, have been used to refinance amounts outstanding under the Company's old credit facility, to fund the respective cash portions of the Aurora and DBBC acquisitions, and to pay fees and expenses associated with both the new credit facilities and the acquisitions.
Reconciliation between Historical GAAP Results And Pro Forma Results for the Three months ended March 31, 2002 (dollars in thousands) Historical Pro Forma GAAP Adjustments Results Net Revenue $44,948 $9,276 (1) $54,224 Station Operating Expenses $33,439 $5,440 (2) $38,879 BCF $11,509 $3,836 $15,345 Corporate Overhead $3,548 -- $3,548 EBITDA $7,961 $3,836 $11,797 (1) Reflects the addition of Aurora Communications and DBBC for the three months ended March 31, 2002 ($9,501), offset by the elimination of revenues from Broadcast Software International ($225).
These stations were acquired in exchange for 5,250,000 shares of the Company's Class A Common Stock, the assumption of approximately $21 million in liabilities of DBBC, and the issuance of warrants to purchase 250,000 additional shares of Common Stock.
Concurrently with the completion of the Aurora and DBBC acquisitions, the Company completed the arrangement and syndication of a $400 million credit facility with J.
The proceeds from the new credit facility, which closed today, have been used to refinance amounts outstanding under the Company's old credit facility, to fund the respective cash portions of the Aurora and DBBC acquisitions, and to pay fees and expenses associated with both the new credit facilities and the acquisitions.
7% Pro Forma information excludes Aurora Communications and DBBC results for the three month periods and years ended December 31, 2001 and 2000.
The agreement provides for Cumulus to issue 5,250,000 shares of its Class A Common Stock, a warrant to purchase 250,000 shares of additional Class A Common Stock, and the assumption of approximately $21 million in liabilities of DBBC in exchange for three radio stations and related assets.
The DBBC acquisition remains subject to the approval of the shareholders of Cumulus, and of the Federal Communications Commission, as well as clearance under the Hart-Scott-Rodino Act, and other customary closing conditions.
Cumulus also announced that it has signed a letter of intent to acquire three radio stations in Nashville, Tennessee, from DBBC, LLC in exchange for 5,250,000 shares of the Company's Class A Common Stock, the assumption of approximately $21 million in liabilities of DBBC, and the issuance of warrants to purchase 250,000 additional shares of Common Stock.
Marty Gausvik, Executive Vice President, Treasurer, and Chief Financial Officer of Cumulus noted, "The DBBC acquisition represents an entry into the 44th rated Arbitron metro, Cumulus' largest market to date.
A special committee of the Board of Directors has negotiated the terms of the letter of intent with DBBC on behalf of Cumulus.