Vice President Development
Resume:
SETH A. GROSSMAN
Ridgewood, NJ 07450
************@*********.***
AREAS OF
EXPERIENCE Chief Financial Officer & Chief Operating Officer leadership in both Technology & Media industries
Budgeting/ Financial Planning & Analysis Public Co. Investor Relations M&A Due Diligence/Integration
$2 Billion of Public & Private Financing SEC Reporting Valuation/Restructuring
Accounting/Finance Dept. Reorganization Audit/SOX-404 Compliance P&L Operations Management
EXPERIENCE
2005-2009 QSGI, INC. HIGHTSTOWN, NJ/EAGAN, MN
Chief Operating Officer, Finance & Services Operations.
Publicly traded QSGI provides a suite of IT services to Fortune 500 corporate, healthcare and education clients’
enterprise class hardware in the data center including 24/7 hardware maintenance, and data security compliance
services for IBM mainframes, IBM/HP/SUN mid-range servers, CISCO hardware, storage, and SAN.
Transitioned Company from start up IT hardware re-marketer to $45-$50 million nationwide IT services firm
providing more stable, recurring, contractual IT maintenance services
Upon arrival implemented accounting infrastructure and financial metrics dashboard
Immediately set in place development of operating and financial controls (SOX-404)
Arranged for credit facilities including working capital & acquisition lines to fund growth requirements
Spearheaded the implementation and financing of Company’s acquisition strategy and related integration
Responsible for banking relationships and Investor Relations
1995-2005 PAXSON COMMUNICATIONS CORPORATION WEST PALM BEACH, FL
2000 – 2005 Executive Vice President & Chief Strategic Officer.
1999-2000 Chief Financial Officer, Treasurer & SVP, Corporate Development & Investor Relations.
1998-1999 Senior Vice President, Corporate Development & Investor Relations.
1995-1997 Vice President, Corporate Development, Director of Finance.
Publicly traded Paxson Communications grew to become Florida’s largest radio broadcaster, operating 46 Florida
radio stations, program networks for the FL Gators, Miami Hurricanes & Miami Heat, and more than 500 billboard
faces in Orlando and Tampa. Company subsequently built the nation’s largest TV station group covering 42 of top
50 markets, which combined with affiliates, satellite and cable outlets, cover more than 88% of US TV households.
Accounting & Corporate Finance:
Responsible for company-wide budgeting, financial planning & analysis, and SEC reporting.
Designed metrics dashboards for tracking radio and television station group operating performance
Restructured accounting/finance division for more centralized operation & control preparing for 404 compliance
Raised more than $2.0 billion through public debt and equity markets as well as privately placed equity
investments including the sale of senior & subordinated debt, junior exchangeable & convertible preferred
equity including a $415 million tranche to NBC, and the public offering of common equity
Arranged more than six senior bank credit facilities and managed all banking and corporate treasury functions
Investor Relations:
In depth relationships with Wall Street community: equity & debt sell-side and buy-side analysts and fund PMs
Activities included presentations at high yield and equity investor conferences as well as industry conferences
Responsible for developing and disseminating all collateral materials including scripting all quarterly earnings
calls, writing SEC filings, quarterly fact sheets & corporate press releases.
Corporate Development & Strategic Planning:
Built and sold entire FL radio platform to Clear Channel for highest projected EBITDA multiple to date
Assembled nation’s largest broadcast TV group including stations in 42 of the top 50 markets
Built and sold within 2 years to Clear Channel a 500 face outdoor advertising division in Orlando and Tampa
Managed The Travel Channel cable network prior to its sale
Negotiated the sale and subsequent lease back of the Company’s broadcast tower portfolio to Spectracite
Organized the Spectrum Clearing Alliance, representing more than 100 TV stations, to facilitate an FCC 700
MHz Spectrum (TV channels 52-69) auction as well as to negotiate the sale of these rights with potential bidders
Developed business models for the TV stations’ digital spectrum such as additional program networks
Responsible for evaluating and developing all corporate, and broadcast TV station related opportunities
SETH A. GROSSMAN
65 South Murray Avenue
Ridgewood, NJ 07450
EXPERIENCE
1992-1995 HOULIHAN, LOKEY, HOWARD & ZUKIN, INC. NEW YORK, NY
Senior Associate, Valuation Advisory/Restructuring
Issued business and securities valuations for restructuring and bankruptcy representations, fairness and solvency
opinions, M&A, recapitalizations and litigation support
Completed balance sheet restructurings, stock repurchases in "going private" transactions and ESOPs
M&A advisory including exclusive seller and buyer representation in the middle market
1991-1992 McFERREN HOLDING CO., LTD. BOSTON, BUDAPEST, VIENNA
Partner.
Head of financial planning for start-up Hungarian telecommunications company, obtaining over $100 million of
foreign capital investment necessary to fund early stage development of proposed new nationwide telecom system.
Summer 1991 CI PRIVATIZATIONCONSULTING, LTD. BUDAPEST, HUNGARY
Summer Associate.
Developed privatization plans for Hungarian industrial plastics manufacturer operating in a free market economy.
1987-1990 MANUFACTURERS HANOVER TRUST COMPANY NEW YORK, NY
Credit Officer, Private Banking & Securities Industry Division
Managed a portfolio of credit extended to private equity investors and real estate developers
Successfully completed Bank's Credit Risk & Financial Analysis Training Program
EDUCATION
1990-1992 HARVARD GRADUATE SCHOOL OF BUSINESS ADMINISTRATION BOSTON, MA
Master of Business Administration degree, June 1992. Tutor for course in Information, Organization & Control.
1983-1987 THE UNIVERSITY OF MICHIGAN ANN ARBOR, MI
1985-1987 School of Business Administration. Bachelor of Business Administration degree With Distinction, May 1987.
Finance & Marketing concentrations. Member Sigma Phi Epsilon Fraternity & Michigan Rugby Club.
1983-1985 Honors College, College of Literature, Science, and Arts. Honors concentration in both mathematics and Greek
literature. Ad representative, The Michigan Daily, University newspaper.
COMMUNITY
2007 - SHARING THE ARTS - SHARING THE BARRE RIDGEWOOD, NJ
Director. Board Member for this special needs performing arts conservatory offering ballet, jazz, modern dance,
vocals & musical theater to children with differing needs in a typical performing arts environment
1998-2005 ENTERPRISE DEVELOPMENT CORPORATION WEST PALM BEACH, FL
Director. Board Member for this South Florida technology development corporation that provides management
consulting and investment banking services to start-up and early growth stage technology based companies.
1988- MANHATTAN SPECIAL OLYMPICS NEW YORK, NY
State Certified Volunteer. Coach athletes with varying degrees of mental impairment. Currently a participating
parent.
PUBLICATIONS
Muszertechnika Rt.: Hungarian Telecommunications with John Dyment, Joseph Saldutti and Professor James
Austin, Case N9-391-128 Harvard Business School, April, 1992
Tools for Financial Analysis - text and software for the translation and analysis of Hungarian financial
statements, Capital Investment Privatisation Consulting Series, 1991
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