Global Traffic Network
Encyclopedia
Global Traffic Network is a helicopter
traffic reporting
service that provides reports to radio and television stations across the United States
and Canada
. The company was formed in 2005 by principals from Westwood One
and Metro Networks
, both of which provide direct traffic and news programming to their affiliate stations in the U.S.
Global Traffic Network also has four subsidiaries, Canadian Traffic Network, Australian Traffic Network, Global Traffic Network UK and Global Traffic Network Europe.
Global Traffic Network was established to be a worldwide aviation company providing helicopter traffic and news reports on the radio and television. It is the leading helicopter vendor for radio traffic and weather reports in Canada and Australia, through its subsidiary Australian Traffic Network. With management and broadcast contracts between Global and Westwood One, the company also is the leading helicopter traffic vendor for radio in the United States supplying 65 markets through Metro Networks.
Global Traffic Network is also attempting to expand its market reach in the televised media through its Australian subsidiary. Combined with the radio affiliates, Global is the dominant ENG helicopter vendor in Australia.
Global Traffic’s media reach, as a helicopter company, is the largest in the world, an idea first hatched by vendors of Metro Networks in 1999.
, the former CEO of Metro Networks, in 1996.
Yde, who had been living in Las Vegas, Nevada
assembled a management group from within Metro Networks and Westwood One, including Shane Coppola, Westwood’s CEO, and Gary Worobow, who was Westwood One’s general counsel, as well as board member of Five “S” Capital, owned by Saperstein.
Yde united four helicopter traffic companies that had been operating in Australia, Canada and Europe. Those four helicopter companies are now subsidiaries of the parent, Global Traffic Network.
Although Global Traffic Network was originally established to serve only the Canadian provinces, Australia and Europe, the company signed advertising and broadcast management agreements with Westwood One and Metro Networks in November 2005, essentially making Global Traffic Network the aviation arm of Westwood and Metro.
Global Traffic Network now owns dozens of Robinson
R44 helicopters to service affiliate contracts in the US, Canada, Australia and Europe, according the 2007 Rotor Roster, a helicopter industry publication that reports annually on the ownership and registration of rotorcraft
.
Global Traffic Network then began the process of an Initial Public Offering
, and in March 2006 the company went public on the NASDAQ Exchange under the stock symbol GNET. Only three months later, Westwood One bought 1,540,000 shares of GNET on behalf of Metro Networks, essentially giving the companies a 10 percent ownership stake in Global Traffic Network.
Coppola, who is married to Saperstein’s daughter, Michelle, worked with Worobow in 2002 and 2003 to raise funding for Global Traffic Network by starting an investment company, Columbus Capital Partners, that worked with Five “S” Capital to fund the acquisition costs related to the purchase of Global Traffic Network’s subsidiary helicopter companies.
Their U.S. broadcast headquarters are located in the CBS Building at 40 West 57th Street, where they share offices with Westwood One.
Their Canadian broadcast centers are located in Toronto and Hamilton, Ontario. Calgary and Edmonton, Alberta. Montreal, Quebec. Vancouver, British Columbia and Winnipeg, Manitoba.
Their Australian broadcast centres are located in all major Australian capital cities. Sydney, Melbourne, Brisbane, Adelaide and Perth.
Their UK Broadcast centres are located at Oxford Airport, Plymouth City Airport and In the Highways Agency
's National Traffic Control Centre in Quinton, West Midlands
In April 2009, Mobile Traffic Network, a wholly owned subsidiary of Global Traffic Network was formed to create a new proprietary and mobile alerting system capable of sending 'hands-free' audio alerts to all mobile phones based on subscriber location and traffic incident zone determination and will be distributed FREE to consumer as an ad-supported application.
Helicopter
A helicopter is a type of rotorcraft in which lift and thrust are supplied by one or more engine-driven rotors. This allows the helicopter to take off and land vertically, to hover, and to fly forwards, backwards, and laterally...
traffic reporting
Traffic reporting
Traffic reporting is the distribution of information about road conditions such as traffic congestion, detours, and traffic accidents, generally as part of a radio or television broadcast program. The reports help commuters anticipate and avoid traffic problems. Many reports mention alternate...
service that provides reports to radio and television stations across the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
. The company was formed in 2005 by principals from Westwood One
Westwood One
Westwood One was an American radio network and was based in New York City. At one time, it was managed by CBS Radio, the radio arm of CBS Corporation, and Viacom and was later purchased by the private equity firm The Gores Group...
and Metro Networks
Metro Networks
http://www.mediabistro.com/fishbowlny/files/2011/04/Metro_Logo_bigger.jpgMetro Networks is a broadcasting outsourcing company based in Houston, Texas. It was a subsidiary of Westwood One until its sale to Clear Channel Communications in 2011...
, both of which provide direct traffic and news programming to their affiliate stations in the U.S.
Global Traffic Network also has four subsidiaries, Canadian Traffic Network, Australian Traffic Network, Global Traffic Network UK and Global Traffic Network Europe.
Global Traffic Network was established to be a worldwide aviation company providing helicopter traffic and news reports on the radio and television. It is the leading helicopter vendor for radio traffic and weather reports in Canada and Australia, through its subsidiary Australian Traffic Network. With management and broadcast contracts between Global and Westwood One, the company also is the leading helicopter traffic vendor for radio in the United States supplying 65 markets through Metro Networks.
Global Traffic Network is also attempting to expand its market reach in the televised media through its Australian subsidiary. Combined with the radio affiliates, Global is the dominant ENG helicopter vendor in Australia.
Global Traffic’s media reach, as a helicopter company, is the largest in the world, an idea first hatched by vendors of Metro Networks in 1999.
History
Global Traffic Network was incorporated in Delaware in May 2005 by William L. Yde, III, who had sold a traffic company to billionaire David I SapersteinDavid I Saperstein
David I. Saperstein is an American entrepreneur and farmer. The father of five children, he currently lives in Houston, Texas.-Biography:Saperstein was born to Jewish parents in Baltimore. He dropped out of college to sell used cars. When he got stuck in a snowstorm he came up with the idea to...
, the former CEO of Metro Networks, in 1996.
Yde, who had been living in Las Vegas, Nevada
Las Vegas, Nevada
Las Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
assembled a management group from within Metro Networks and Westwood One, including Shane Coppola, Westwood’s CEO, and Gary Worobow, who was Westwood One’s general counsel, as well as board member of Five “S” Capital, owned by Saperstein.
Yde united four helicopter traffic companies that had been operating in Australia, Canada and Europe. Those four helicopter companies are now subsidiaries of the parent, Global Traffic Network.
Although Global Traffic Network was originally established to serve only the Canadian provinces, Australia and Europe, the company signed advertising and broadcast management agreements with Westwood One and Metro Networks in November 2005, essentially making Global Traffic Network the aviation arm of Westwood and Metro.
Global Traffic Network now owns dozens of Robinson
Robinson
-Places:United States* Robinson, California* Robinson, Illinois* Robinson, Iowa* Robinson, Kansas* Robinson, North Dakota* Robinson, Texas* Robinson Township, Pennsylvania , two townships in the Pittsburgh Metro Area with the same name...
R44 helicopters to service affiliate contracts in the US, Canada, Australia and Europe, according the 2007 Rotor Roster, a helicopter industry publication that reports annually on the ownership and registration of rotorcraft
Rotorcraft
A rotorcraft or rotary wing aircraft is a heavier-than-air flying machine that uses lift generated by wings, called rotor blades, that revolve around a mast. Several rotor blades mounted to a single mast are referred to as a rotor. The International Civil Aviation Organization defines a rotorcraft...
.
Capitalization and investment
In November 2005, Metro Networks, which is a subsidiary of Westwood One, extended a $2-million dollar loan to Global Traffic Network in order to help capitalize the company, according to financial records filed by Global Traffic Network with the U.S. Securities and Exchange Commission (SEC.Global Traffic Network then began the process of an Initial Public Offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
, and in March 2006 the company went public on the NASDAQ Exchange under the stock symbol GNET. Only three months later, Westwood One bought 1,540,000 shares of GNET on behalf of Metro Networks, essentially giving the companies a 10 percent ownership stake in Global Traffic Network.
Management
Global Traffic Network is operated by the same principals who once ran Metro Networks, and later were in charge of Westwood One. Among the field of executives are William Yde, III, who serves as CEO; Shane Coppola, former CEO of Westwood One and a former director at Metro Networks; Gary Worobow, who is general counsel and is also general counsel for Five “S” Capital, owned by former Metro Networks CEO David Saperstein; Ivan Schulman, who serves as an Executive Vice President and once was an EVP at Metro Networks. Scott Cody, who also was on the board of directors for Metro and Westwood One, is the chief financial officer for Global, as well, and was among the first executives to move from Westwood to GNET in 2005.Coppola, who is married to Saperstein’s daughter, Michelle, worked with Worobow in 2002 and 2003 to raise funding for Global Traffic Network by starting an investment company, Columbus Capital Partners, that worked with Five “S” Capital to fund the acquisition costs related to the purchase of Global Traffic Network’s subsidiary helicopter companies.
Network offices
Global Traffic Network owns and leases offices in the U.S., UK, Canada and Australia. Their financial records at the SEC show their primary offices are located in New York City, at 800 Second Avenue, which is also the home of the Israeli Consulate’s New York office.Their U.S. broadcast headquarters are located in the CBS Building at 40 West 57th Street, where they share offices with Westwood One.
Their Canadian broadcast centers are located in Toronto and Hamilton, Ontario. Calgary and Edmonton, Alberta. Montreal, Quebec. Vancouver, British Columbia and Winnipeg, Manitoba.
Their Australian broadcast centres are located in all major Australian capital cities. Sydney, Melbourne, Brisbane, Adelaide and Perth.
Their UK Broadcast centres are located at Oxford Airport, Plymouth City Airport and In the Highways Agency
Highways Agency
The Highways Agency is an executive agency, part of the Department for Transport in England. It has responsibility for managing the core road network in England...
's National Traffic Control Centre in Quinton, West Midlands
Future
While the company originally intended to operate only in Canada, sales and broadcast agreements with its investment companies, Westwood and Metro, have given Global a substantial penetration into the U.S. radio market, according to Hoovers Business .In April 2009, Mobile Traffic Network, a wholly owned subsidiary of Global Traffic Network was formed to create a new proprietary and mobile alerting system capable of sending 'hands-free' audio alerts to all mobile phones based on subscriber location and traffic incident zone determination and will be distributed FREE to consumer as an ad-supported application.
External links
- Global Traffic Network http://www.globaltrafficnet.com
- Mobile Traffic Network http://www.mobiletrafficnetwork.com
- Apisphere http://www.apisphere.com/newsevents/109-apisphere-mtn
- Global Traffic Network UK http://www.gtn.uk.com
- The Australian Traffic Network http://www.trafficnet.com.au
- The Canadian Traffic Network http://www.trafficnet.ca
- Securities and Exchange Commission http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001344907&type=&dateb=&owner=include&start=0&count=40ml
- Westwood Purchase of GNET Stock http://www.sec.gov/Archives/edgar/data/771950/000077195006000015/xslF345X02/primary_doc.xml
- Hoover’s Business http://www.hoovers.com/global-traffic/--ID__145300--/free-co-factsheet.xhtml