Steven Hicks
Encyclopedia
Robert Steven "Steve" Hicks (born in 1950), is an American
businessman, who is mostly closely associated with the radio business, pioneering the concept of local marketing agreement
and was the Vice-Chairman of AMFM, Inc., a predecessor of radio station giant Clear Channel Communications
. He is currently chairman of the board of director of medial medical products firm HealthTronics as well as the chairman of private investment firm Capstar Partners LLC, which he is the principal owner. He is also currently serving on The University of Texas System Board of Regents.
owner John Hicks, Hicks was born in Dallas, Texas
, the younger brother of future billionaire Tom Hicks
. He graduated from Thomas Jefferson High School in Port Arthur, Texas
in 1968. Hicks attended the University of Texas in Austin. He became a brother of Sigma Phi Epsilon
, and graduated in 1972 with a Bachelor's degree
in Finance.
1997. Over the next 14 years, he acquired stations in Texas
, Oklahoma
, Louisiana
, Tennessee
, Mississippi
, and South Carolina
. He also co-founded and served as CEO of SFX Broadcasting, Inc. from November 1993 to May 1996, including the initial public offering
of the stock in 1993.
Later, he founded and served as chief executive officer of Capstar Broadcasting Corporation, which he also took public on the New York Stock Exchange in 1998. In 1999, Capstar Broadcasting merged with Chancellor Media Corp to form AMFM Inc. Hicks served as vice-chairman and chief executive officer of the new media division of AMFM.
In 2000, AMFM was bought by radio station behemoth Clear Channel Communications. In December 2002, Hicks was appointed to the board of directors of XM.
On February 2, 2005, Hicks was appointed to the board of directors of sound equipment maker SLS International, Inc., a publicly trade company(the firm filed chapter 11 in 2009).
In February 2009, Texas Governor Rick Perry
appointed Hicks to a term on The University of Texas System Board of Regents. He was confirmed by the Texas State Senate on April 1, 2009, took office the following day and his term expires February 1, 2011. He serves on the Facilities Planning and Construction Committee as well as the Student, Faculty, and Staff Campus Life Committee.
In 1997, Hicks was named the Radio Executive of the Year and was ranked one of the 10 Most Powerful People in Radio by Radio Ink. In 1996, Ernst & Young named him Entrepreneur of the Year and recognized as Broadcaster of the Year by the Texas Association of Broadcasters.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
businessman, who is mostly closely associated with the radio business, pioneering the concept of local marketing agreement
Local marketing agreement
In U.S. and Canadian broadcasting, a local marketing agreement is an agreement in which one company agrees to operate a radio or television station owned by another licensee...
and was the Vice-Chairman of AMFM, Inc., a predecessor of radio station giant Clear Channel Communications
Clear Channel Communications
Clear Channel Communications, Inc. is an American media conglomerate company headquartered in San Antonio, Texas. It was founded in 1972 by Lowry Mays and Red McCombs, and was taken private by Bain Capital LLC and Thomas H. Lee Partners LP in a leveraged buyout in 2008...
. He is currently chairman of the board of director of medial medical products firm HealthTronics as well as the chairman of private investment firm Capstar Partners LLC, which he is the principal owner. He is also currently serving on The University of Texas System Board of Regents.
Early life and education
The son of a Texas radio stationRadio station
Radio broadcasting is a one-way wireless transmission over radio waves intended to reach a wide audience. Stations can be linked in radio networks to broadcast a common radio format, either in broadcast syndication or simulcast or both...
owner John Hicks, Hicks was born in Dallas, Texas
Dallas, Texas
Dallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States...
, the younger brother of future billionaire Tom Hicks
Tom Hicks
Thomas Ollis Hicks, Sr. , is an American 'leveraged buyout' businessman living in Dallas, Texas. Despite Forbes Magazine estimating Hicks' wealth at USD 1 billion in 2009, Hicks was unable to pay off joint loans of circa £200 million the following year...
. He graduated from Thomas Jefferson High School in Port Arthur, Texas
Port Arthur, Texas
-Demographics:As of the 2000 census, there were 57,755 people, 21,839 households, and 14,675 families residing in the city. The population density was 696.5 people per square mile . There were 24,713 housing units at an average density of 298.0 per square mile...
in 1968. Hicks attended the University of Texas in Austin. He became a brother of Sigma Phi Epsilon
Sigma Phi Epsilon
Sigma Phi Epsilon , commonly nicknamed SigEp or SPE, is a social college fraternity for male college students in the United States. It was founded on November 1, 1901, at Richmond College , and its national headquarters remains in Richmond, Virginia. It was founded on three principles: Virtue,...
, and graduated in 1972 with a Bachelor's degree
Bachelor's degree
A bachelor's degree is usually an academic degree awarded for an undergraduate course or major that generally lasts for three or four years, but can range anywhere from two to six years depending on the region of the world...
in Finance.
Career
Hicks bought his first radio station at age 29. He was the CEO of GulfStar Communications, Inc., from July 1987 to January1997. Over the next 14 years, he acquired stations in Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, Oklahoma
Oklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
, Louisiana
Louisiana
Louisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
, Tennessee
Tennessee
Tennessee is a U.S. state located in the Southeastern United States. It has a population of 6,346,105, making it the nation's 17th-largest state by population, and covers , making it the 36th-largest by total land area...
, Mississippi
Mississippi
Mississippi is a U.S. state located in the Southern United States. Jackson is the state capital and largest city. The name of the state derives from the Mississippi River, which flows along its western boundary, whose name comes from the Ojibwe word misi-ziibi...
, and South Carolina
South Carolina
South Carolina is a state in the Deep South of the United States that borders Georgia to the south, North Carolina to the north, and the Atlantic Ocean to the east. Originally part of the Province of Carolina, the Province of South Carolina was one of the 13 colonies that declared independence...
. He also co-founded and served as CEO of SFX Broadcasting, Inc. from November 1993 to May 1996, including the 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...
of the stock in 1993.
Later, he founded and served as chief executive officer of Capstar Broadcasting Corporation, which he also took public on the New York Stock Exchange in 1998. In 1999, Capstar Broadcasting merged with Chancellor Media Corp to form AMFM Inc. Hicks served as vice-chairman and chief executive officer of the new media division of AMFM.
In 2000, AMFM was bought by radio station behemoth Clear Channel Communications. In December 2002, Hicks was appointed to the board of directors of XM.
On February 2, 2005, Hicks was appointed to the board of directors of sound equipment maker SLS International, Inc., a publicly trade company(the firm filed chapter 11 in 2009).
In February 2009, Texas Governor Rick Perry
Rick Perry
James Richard "Rick" Perry is the 47th and current Governor of Texas. A Republican, Perry was elected Lieutenant Governor of Texas in 1998 and assumed the governorship in December 2000 when then-governor George W. Bush resigned to become President of the United States. Perry was elected to full...
appointed Hicks to a term on The University of Texas System Board of Regents. He was confirmed by the Texas State Senate on April 1, 2009, took office the following day and his term expires February 1, 2011. He serves on the Facilities Planning and Construction Committee as well as the Student, Faculty, and Staff Campus Life Committee.
Personal life
Hicks is married to designer Donna Stockton-Hicks. They live in Austin and have three children, two stepchildren, and eight grandchildren. They own a four acre, 13362 square feet (1,241.4 m²) mansion in the heart of Pemberton Heights, West Austin's most exclusive neighborhood. It is reportedly the most expensive existing home in Austin, although tax records indicate the purchase price was $7.3 million.In 1997, Hicks was named the Radio Executive of the Year and was ranked one of the 10 Most Powerful People in Radio by Radio Ink. In 1996, Ernst & Young named him Entrepreneur of the Year and recognized as Broadcaster of the Year by the Texas Association of Broadcasters.