Courtesy of InsideRadio
September 16, 2022
Iliad Media Group boasts on its website that it is a “media group like you’ve never met before.” That is a lot truer today as it transitions to 100% employee ownership. Forty-six employees will, over time, become the owners, setting it on a course to become one of four radio groups in the U.S. that are employee-owned by year-end.
The move will occur through what is known as an Employee Stock Ownership Plan. ESOPs are qualified retirement plans that buy, hold, and sell company stock for the benefit of the employees, providing an ownership stake in the company. Listeners will likely not notice much of a change, however, as Iliad Media Group will continue to operate as usual.
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