Categories
Finance

Freedom Communications, Inc: Family Enterprise or Liquidity?

Situation

Freedom Communication is a family media enterprise that is operated on very strong family cultures.  Raymond C. Hoiles (R.C.) a passionate voluntaryist and libertarian, founded the company.  The family ran company has been handed down from generation to generation to remain a family owned and operated company.  In 1982, the company sought outside help and the board appointed non-family executives as CEOs.  James Rosse was appointed from 1992-1999.  He supported the family business aspect and re-energized the family involvement.  He implemented the G3/G4 Family Issues Committee, or as referred to in 1998, the Family Council.  The company passing from family to non-family, back to family controls no relevance in the final outcome.