Served as chief restructuring officer for radio content and syndications firm.  Completed forbearances and refinancing.  Preserved critical strategic relationships.  Subsequently served as advisor in sale to industry buyer.


$203 million financing for niche direct broadcast satellite system operator/programmer:  $100 million refinance of senior debt; $50 million subordinated debt with warrants, $53 million equity.  This represented the culmination of an advisory relationship that spanned seven years and encompassed 10 transactions, during which time the company experienced 11x growth in subscribers.

David was an early advisor, investor and Board member in a company with niche products, helping it to grow to over $60 million in revenues before its sale in early 2019.  Oversaw five acquisitions, two partial-liquidity events, and divestiture of non-core division.  Since the last partial-liquidity event in late 2011 to the date of the sale, valuation increased over 13x, with the potential for an additional 6x with earn-outs.  

$37.5 million senior debt financing for a television broadcaster with distribution to over 4 million cable homes, broadcasting news and direct-response programming.  The facility was increased to finance the acquisition of a television station in a major market, a transaction for which DAC created the strategy that led to success as the buyer in a complex, contentious chapter 11 reorganization.  DAC represented this company for twelve years and completed five financings and numerous strategic assignments for them, in addition to operational and business development consulting projects.

Represented a cable television network on three separate occasions in which our client restructured its relationship with a key strategic partner, subsequently merged with another network and then combined with a larger strategic partner that is today distributed to virtually every household.

Acquisition and financing of a geothermal power plant and related assets in a series of eight transactions.  David was one of the organizers of the company.  He then managed a comprehensive capital improvement project, completed ahead of schedule and under budget, as well as obtained critical contracts for expansion.

Managed a troubled cable system on behalf of its senior lender until its sale by DAC.  This assignment involved forensic accounting as well as other turn-around activities.  DAC then successfully sold the system, resulting in a full recovery of the bank’s principal.

Represented group developing an electronic exchange for the sale of various types of direct-marketing advertising.  Our client was acquired by a strategic buyer.  DAC had worked with this management team for several years, assisting with the early go-to market strategy and securing a vital strategic partner.

Structured and negotiated acquisition and financing of cable television systems with 17,000 subscribers in Virginia and West Virginia, totaling $33 million in financing, including capital improvements.  Represented the company in its acquisition and financing of 8,500 additional subscribers which also involved a trade of some systems with a nearby cable operator. 

$12 million equity financing to effect the management buy-out of, and provide working capital for a cable television equipment manufacturer.  David later served on the Board of the company.