Kei Out, Santaella Upped As Rodriguez Becomes Interim MediaCo CEO

By Adam Jacobson

The publicly traded company that controls Estrella Media‘s radio and TV properties and is the owner of WQHT “Hot 97” and WBLS in New York has a new Chief Operating Officer as Albert Rodriguez has assumed interim Chief Executive Officer duties, a SEC filing reveals.

Chief Legal Officer Andrew Carrington confirmed to the U.S. government that René Santaella on October 29 was appointed by the MediaCo board to succeed Brian Kei as COO. Kei departed on Friday (10/25) and previously served as Estrella Media’s Chief Operating Officer and Chief Financial Officer, a role he had at predecessor company LBI Media.

Santaella has been with Estrella Media for several years and previously served as SVP/Head of Ad Sales & Business Operations at Sony Pictures Television Digital Networks, where he built Crackle into a free ad-supported streaming “FAST” channel. Before Sony, he was Director of Ad Sales Marketing for Disney Interactive, leading digital and cross-platform advertising and integrated marketing solutions across the company with corporate alliance partners.

Santaella will receive an annual base salary of $450,000; annual cash incentive compensation in a target amount of 50% of his annual base salary, with achievement determined based on the discretion of the company; a $1 million equity incentive with 50% vesting after just three years; and a severance arrangement in the event he is terminated without cause that is equal to nine months of his base salary.

Meanwhile, MediaCo Chief Revenue Officer and MediaCo Audio President Rodriguez was appointed by the company’s board to serve in an interim capacity as President/CEO of the company, as Monday (10/28) saw the conclusion of a six-month engagement as interim President/CEO of Jacqueline Hernández.

Hernández will continue to serve as a member of the Board.

Courtesy of Radio TV Business Report