Roy Disney Completes Purchase of Malrite Unit

Investor Roy E. Disney completed the previously announced purchase of Malrite Communications Group Inc.’s radio operations in a stock swap valued at more than $300 million.

Acquiring Cleveland-based Malrite gives Disney’s Shamrock Broadcasting Inc. in Burbank 21 radio stations, making Shamrock one of the largest radio-station owners in the nation.

Shamrock Broadcasting is a unit of Shamrock Holdings, a private company principally owned by Disney and Trefoil Capital Investors L.P. Trefoil is an investment fund formed by Shamrock.

Malrite is a private company owned by longtime broadcasting executive Milton Maltz. As part of the deal, Maltz received a minority stake in Shamrock Holdings and will serve as a Shamrock Holdings director.