Simmons Media Group
| Private company | |
| Industry | Media |
| Founded | 1977 |
| Founder | Roy W. Simmons Elizabeth E. Simmons |
| Headquarters | Salt Lake City, U.S. |
|
Key people
|
Craig Hanson, President and CEO |
| Website | www |
Red Rock Broadcasting (formerly Simmons Media Group) is a media company based in the United States. The company owns AM and FM radio stations, as well as outdoor advertising, a travel agency and an interactive agency.
Simmons Media Group (SMG) is a company rich with history and experience. SMG's predecessor company was organized in 1977 to purchase KSFI-FM in Salt Lake City, Utah by Roy W. Simmons, his wife Elizabeth E. Simmons, and their six family members. The purchase of KSFI-FM from Bonneville International Corporation was completed in early 1978. Craig Hanson, sales manager of the station prior to its purchase was promoted to general manager and has remained the chief operating officer of the company ever since.
Roy W. Simmons was already a prominent member of the Utah business community. in 1960 he led an investigation group that purchased the LDS Church's controlling interest in Zion's First National Bank, one of the West's oldest financial institutions having been founded by Brigham Young in 1873. Under Mr. Simmons' direction as president and later chairman, Zion's Bancorporation grew tremendously throughout Utah. After his retirement in the early 1990s, his son Harris Simmons significantly expanded the Bancorporation throughout the Western United States. Zions currently has assets of approximately $45 billion with over 450 branches throughout the West. Harris remains the chairman and CEO of the Bancorporation and the Simmons family remains a large shareholder of the publicly traded company.
In 1985, David Simmons joined the company as president. David was tasked with growing and diversity the family's business interests from its dependence on its investment in Zions Bank. Working closely with Craig Hanson, David began looking for additional radio stations in the area to acquire and develop. Two years earlier the company had purchased an AM station in Salt Lake City, and in the next few years new stations in St. George, Utah, and Idaho Falls, Idaho, were acquired.
In 1987, the company purchased a majority interest in Bonneville Satellite Corporation, a broadcast services firm created by Bonneville International for radio and television broadcasters. Under David's direction this company (later named Keystone Communications) grew its revenues nearly tenfold and increased its enterprise value from $2 million to $106 million prior to its sale in 1996 to the France Telecom. Just prior to the France Telecom sale, Bruce Thomas joined the company as CFO. Following the sale Bruce opted to stay with SMG. Shortly afterwards, Keystone's controller, Bret Leifson, also joined SMG.
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