• by Erik Sass  @eriksass1, November 13, 2007

The buying spree in online radio isn't over yet. The most recent deal has Triton Media Group buying Excelsior Radio Networks and its two subsidiaries: Dial Global and MJI Interactive. The goal is to create an online radio ad network. The price tag is said to be more than $100 million.

Triton, a subsidiary of private-equity firm Oaktree Capital, provides an array of digital services to radio stations, including streaming audio technology, database programs, mobile marketing, site development, social-network platforms, music downloading, and specialty sales. Its partners include Fusion and TuneGenie.

The deal will allow Triton to expand the reach of ads through Excelsior's online network. Excelsior Radio Networks two divisions provide complementary services to radio broadcasters, including a growing online component. Currently, Dial Global provides sales representation to over 50 national production companies, as well as producing and syndicating 25 shows. Sister firm MJI provides partner stations with Web content and software tools.

"Over the past five years, Excelsior has become the leading independent network radio company through acquisitions, joint ventures and organic growth," says Excelsior CEO Spencer Brown. "The transaction with Triton provides us with the capital and expertise to continue our growth in network radio, while at the same time broadening the scope of our offerings."

Triton says it plans to create an innovative new business model, in which stations offer ad inventory as barter in return for Triton's digital services--reducing or even eliminating the fee system.