Chief Financial Officer
Mr. Simontis was a valuable partner in New Vision II. He consolidated all of the new entities with Corporate and assisted with all aspects of the following two station acquisitions. While at New Vision, Eric has been the pivotal point for all financial-related activities, including audit and tax relationships and the ongoing compliance with the banking group. Eric was also responsible for the risk management functions at New Vision, and he successfully integrated all of the acquired entities' benefits and insurance at a significantly reduced rate, while actually improving the benefits and coverage.
Prior to joining New Vision, Eric spent fourteen years at PricewaterhouseCooper's audit group in both the US and UK. During this time, his focus was primarily on growing companies in a variety of industries, including entertainment and media. A substantial part of his work focused on acquisitions and divestitures, where he was involved in all aspects of the transactions including a significant number of due diligence assignments.
After Eric left PwC, he worked as the Controller for AMFM, currently a subsidiary of Clear Channel Communications. At the time he left, AMFM owned and operated 420 radio stations in 100 markets throughout the United States, as well as Katz Media Group, Inc. During his tenure at AMFM, he gained significant hands on experience with acquisitions and divestitures, including: the merger of Capstar Broadcasting with AMFM in July 1999, the sale of the AMFM Outdoor Division to Lamar Advertising Corporation in September 1999, and the August 2000 merger of AMFM with Clear Channel Communications, Inc.
Following the Capstar merger, Eric was responsible for financially integrating the two organizations. With the Outdoor sale, he was responsible for all post-sale activities, including pro-rations and tax activities. Eric was also the main point of contact with Clear Channel for the integration of AMFM within Clear Channel. This also included the divestiture of fifty-eight stations required by the FCC for the Clear Channel merger. The integration project and related divestitures took approximately one year, and Eric was deeply involved in all areas.
Following his tenure at AMFM, Eric became the VP Finance at Pegasus Solutions (NASDAQ, PEGS), a technology provider to the hotel industry. Eric re-organized the planning and administrative functions at Pegasus, formed the purchasing group and took over all internal and external reporting. He was also responsible for managing the Investor Relations function at Pegasus. While at Pegasus, Eric was the main point of contact for the acquisition of GETS, the main developer of the Property Management software. In this role, Eric Simontis was responsible for all of the coordination between Pegasus and GETS for all stages of the acquisition, from due diligence to the financial and operational integration.