WP Media Lending

People

Dave Westburg

Dave has 18 years of experience in media lending. From 1997 to 2004 he served as President of Westburg Media Capital, a media finance company. Under his supervision, Westburg Media Capital lent $142 million to small media and publishing companies. He sold Westburg Media Capital to Wells Fargo Foothill, a subsidiary of Wells Fargo Bank, in 2004. Dave was a Vice President of Corporate Banking at US Bank of Washington from 1989 to 1997 and Assistant Vice President of Corporate Lending at Continental Illinois National Bank and Trust from 1986 to 1989.

Dave has been a speaker at events held by the Association of Alternative Newspapers, Independent Free Papers Association, Newsletters Publishers Association and the National Association of Broadcasters.

Dave holds an MBA from the Graduate School of Business at the University of Chicago, an MA from the Eagleton Institute of Politics at Rutgers University and a BA from Pacific Lutheran University.

Dave's contact information is as follows:

Dave Westburg
WP Media Lending
532 9th Avenue
Kirkland, WA 98033
(206) 910-1283

Jim Penney

Jim has 20 years of experience structuring media financings and operating media companies. Jim is currently the Executive Vice President of Wave Broadband, a cable, data and phone provider serving approximately 144,000 customers in Washington and California. From 2000 to 2006, Jim was a partner at the Seattle, Washington law firm of Cairncross & Hempelmann, PS, where he practiced in the Corporate Finance and Technology Transactions groups and represented Microsoft Corporation, Starwood Corporation, Sealaska Corporation and a number of cable operating companies. From 1985 to 2000, Jim was the Vice President, General Counsel and Secretary of Northland Communications Corporation, a top-20 cable provider. Jim has been involved in every aspect of the cable/broadband business, including the initial financing and refinancing of $750 million in senior bank debt and $100 million in public bonds.

Jim received his BA from the University of Florida and his JD from the College of William and Mary, where he was a member of the Law Review. Jim also completed the University of Washington's year-long Business Management Program.

Jim's contact information is as follows:

Jim Penney
Partner
WP Media Lending, LLC
532 9th Avenue
Kirkland, Washington 98033
Phone: 206-972-6943
Fax: 866-202-1140