PHILADELPHIA, March 14, 2018 /PRNewswire/ -- United States Traffic Network, LLC ("USTN" or the "Company") the leading independent provider of broadcast traffic solutions in the United States, announced today the completion of a management-led buyout of the Company. The buyout, by Fair & Equal LLC, based in Texas, was spearheaded by Ivan Shulman, President of USTN and a long-time industry veteran with a proven track-record of building effective and successful sales and management teams in the U.S. radio ad-sales market. Terms of the transaction were not disclosed. The Company will continue to do business as United States Traffic Network.
"I have been working in lock-step 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," said Mr. Ivan Shulman, who will become the Chairman and CEO of the Company. "The massive potential market, combined with our ability to leverage deep relationships with our broadcast partners, has positioned USTN to assume a renewed leadership position in our industry."
According to industry experts, the traffic and weather short form ad market represents approximately $500 million in annual sales and is growing. Joining Mr. Shulman on the leadership team at USTN is Senior Vice President of Operations and TV David Waskiewicz, Senior Vice President of Sales Brian Willner and Senior Vice President of Financial Planning and Analysis Christine Nugent. Together, the USTN leadership team has more than 100 years of experience and has collectively been responsible for $1.8b of sales in the industry. The Company operates in multiple locations across the country, and has 260 full and part time employees.
Mr. Shulman concluded, "To our customers and partners, our message is simple; it's business as usual. USTN remains laser focused on building our business in the U.S. and continuing to deliver the best-in-breed products and services to which the market has been accustomed. The new leadership team is equally committed to launching new products and services to meet the growing needs of broadcasters and advertisers across the country."
About United States Traffic Network (USTN)
United States Traffic Network, LLC a wholly owned subsidiary of Fair & Equal LLC, is the leading independent provider of broadcast traffic solutions in the United States. With expertise in collecting and disseminating traffic information in audio and video formats, USTN's products are used by more than 1,100 television and radio stations. USTN's traffic solutions and in-house traffic gathering staff analyze real-time data from more than one hundred sources including road sensors, traffic cameras, and official accident and incident reports to help viewers save time, fuel, and frustration every day.
SOURCE United States Traffic Network, LLC