Jim Hoak

Mr. Hoak has over 40 years of experience as an entrepreneur, operator, investor and chief executive officer across many industries. Mr. Hoak serves as the Chairman of Hoak & Co., a holding company for Mr. Hoak and his family with investments in both private and publicly-traded companies as well as outside managed funds. In 2003, Mr. Hoak founded and currently serves as Chairman of Hoak Media Corporation, an owner and operator of 27 broadcast television stations in 9 markets. In 1971, Mr. Hoak co-founded and served as Chief Executive Officer of Heritage Communications, Inc., or Heritage. Heritage, which became a public NYSE-listed company, was one of the 10 largest cable television system operators in the United States with over 1 million subscribers in 400 communities in 22 states. In 1987, Heritage was sold to Tele-Communications, Inc., or TCI, for $1.6 billion (including assumption of debt). Concurrent with the sale of Heritage to TCI, Mr. Hoak formed Heritage Media Corporation, or Heritage Media, and led the $225 million buyout of Heritage's broadcast assets from TCI in partnership with Goldman, Sachs & Co. and others. Mr. Hoak served as Chairman of Heritage Media, which became the largest in-store media and marketing services company in the country, until its sale in 1997 to NewsCorp for $1.4 billion (including the assumption of debt). In 1988, Mr. Hoak led the buyout of Da-Lite Screen Company, a leading manufacturer of audio-visual screens and conference room equipment. In 2004, Mr. Hoak led a dividend recapitalization of the company through a $160 million public bond offering and served as a director and its largest shareholder until its sale in April 2011 for over $200 million. In 1991, Mr. Hoak formed Crown Media, Inc., or Crown, with Hallmark Cards to buy and operate cable television systems. He served as Chairman and Chief Executive Officer of Crown until its sale in 1995 for $900 million (including the assumption of debt). At the time, Crown was one of the 20 largest cable television system operators in the United States. From 1991 to 2009, Mr. Hoak was a Principal and Chairman of Hoak Capital Corporation, which made private equity investments in communications and business services companies, including managing Hoak Communications Partners, L.P., a $175 million private equity fund. Mr. Hoak formed Hoak Securities, Inc. in 1995, which merged into HBW Holdings, Inc., a firm that provided investment and investment banking services to middle market companies in many industries. Mr. Hoak was an investor and director of HBW Holdings, Inc. Mr. Hoak currently serves as a director of Hoak Media Corporation, a broadcasting company focused on the acquisition, development and operations of television stations in small and medium-sized U.S. markets; Mustang Gas Compression, LLC, a provider of natural gas compression equipment and services; and Austin Industries, Inc., a construction firm. Mr. Hoak previously served as a director for numerous other private and publicly-traded companies, including Chaparral Steel Company (Non-executive Chairman), Pier 1 Imports, Inc., PanAmSat Corporation, MidAmerican Energy Company and Airgas, Inc. Mr. Hoak is currently a Life Trustee for The Hockaday School, as well as a member of the Executive Board of Southern Methodist University's Cox School of Business. Mr. Hoak received a Bachelor of Arts degree from Yale University in 1966 and a Juris Doctor from Stanford University School of Law in 1969.

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