Soohyung Kim, the hedge fund manager who led the $1.6 billion merger of Media General and LIN Media, has rescued RadioShack from liquidation and is now implementing a turnaround plan that entails reducing the the number of outlets and turning the remaining ones into electronics convenience stores.
The combination of the financial acumen of hedge-fund investor Soohyung Kim and the operational expertise of CEO Vincent Sadusky is transforming an old media firm into a forward-looking TV broadcaster. With its acquisition of LIN’s stations and digital group, Kim says the new Media General is “positioning the company to meet change from the balls of our feet, not from the heels. We believe that broadcast television can be a better business than it has been in the past.” Pictured above is the company’s Richmond, Va., headquarters.
When the drama surrounding American Apparel and its flamboyant founder, Dov Charney, began playing out earlier this year, Charney may have commanded the spotlight, but Soohyung Kim and his hedge fund Standard General quickly emerged as the key players. Kim’s biggest moves so far have been in broadcast television, although largely behind the scenes. (See […]
Soohyung Kim’s Standard General funds reveal an active, eclectic investment approach with a common thread — distressed debt. Kim has been particularly adept at identifying companies in financial turmoil and buying their debt, often at pennies on the dollar. In several cases, Kim has turned those investments into big hits — at least on paper. […]
Soohyung Kim, a 39-year-old hedge fund manager, has leveraged a $100 million investment in bankrupt Young Broadcasting into a $1.6 billion merger that will combine Media General and LIN Media and effectively put him in control of the nation’s eighth largest TV station group