Amit Thakrar
Mediaco HoldingAbout Amit Thakrar
Amit Thakrar, age 37, has served as a director of MediaCo Holding Inc. since August 2023. He brings 15+ years of investing and special situations experience and operational media expertise, including Partner at Standard General LP (since 2019) and Executive Vice President at Standard Media Group LLC; he holds an MBA from Columbia Business School and a Bachelor of Commerce (Honors) from Queen’s University . The Board has determined he is an independent director under Nasdaq rules despite MediaCo’s controlled company status .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Standard General LP | Partner | 2019–present | Investment, financial management, media sector expertise |
| Standard Media Group LLC | Executive Vice President | Not specified (prior to/around 2019+) | Operational execution in diversified media |
| Davidson Kempner Capital Management | Investment professional | 2010–2019 | Special situations investing |
| OMERS Private Equity | Investment professional | 2010–2019 | Private equity investing |
| CIBC World Markets | Investment professional | 2010–2019 | Investment banking experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships disclosed for Mr. Thakrar in the proxy biography . |
Board Governance
- Independence: Board determined seven of eight directors are independent, including Thakrar; MediaCo is a “Controlled Company” under Nasdaq .
- Committees: Audit Committee member; Compensation Committee member. Audit Chair: Robert L. Greene (audit committee financial expert); Compensation Chair: Deborah McDermott .
- Meetings: Board met 4 times in 2024; Audit Committee held 4; Compensation Committee held 3 .
- Attendance: Each director attended at least 75% of Board/committee meetings during their service; all directors in office attended the 2024 annual meeting (virtual-only) .
- Leadership: Board Chair is independent (Deborah McDermott) and leads executive sessions and agendas; governance documents and codes available on website .
Fixed Compensation
| Component | Amount | Period | Notes |
|---|---|---|---|
| Fees Earned or Paid in Cash | $60,000 | 2024 | Reported Director fees for Amit Thakrar |
| Annual Retainer Policy | $75,000 authorized; 20% reduction ongoing | Ongoing since 2020 | Directors reduced retainers by 20%; reductions remain for 2024; certain reductions expected to be paid in Class A Shares upon approval of new equity plan |
| Committee Chair Fees | $50,000 per chair (Board Chair, Audit, etc.) | Authorized 2021; still referenced | Thakrar is not a chair; chairs identified separately |
| Meeting Fees | Not disclosed | — | No separate meeting fees disclosed |
Performance Compensation
| Item | Grant/Value | Terms | Notes |
|---|---|---|---|
| Stock Awards (RSUs/PSUs) to Thakrar | $0 | — | No stock awards reported for Thakrar in 2024 |
| Option Awards to Thakrar | $0 | — | No option awards reported for Thakrar in 2024 |
| Performance Metric Linkage | Not disclosed for directors | — | The 2025 Equity Compensation Plan permits performance awards but director-specific metrics not disclosed; non-employee director annual equity/cash cap: $1,000,000 year of appointment; $300,000 thereafter |
Clawback: All awards under the 2025 Plan are subject to forfeiture/clawback as required by law or company policy .
Other Directorships & Interlocks
| Entity | Relationship | Nature | Governance/Conflict Note |
|---|---|---|---|
| Standard General LP / SG Broadcasting LLC | Affiliate of controlling shareholder | SG Broadcasting beneficially owns ~80% of Class A and 100% of Class B; ~89.52% combined voting power as of June 18, 2025 | Thakrar’s Standard General affiliation elevates related-party and influence considerations in a controlled company context |
| Standard Media Group LLC | Affiliate of Standard General | Employee Leasing Agreement with MediaCo effective Oct 1, 2024 (at-cost arrangement) | Operational interlock may present perceived conflict; oversight resides with independent committees |
| HPS Investment Partners/Aggregator | Significant holder with designation rights | Aggregator can designate up to three directors per Shareholders Agreement; Cannon and Pertuz designated; rights fall away below 10% beneficial ownership | Concentrated influence alongside SG Broadcasting; not directly tied to Thakrar but relevant board context |
Expertise & Qualifications
- Financial/investment expertise across private equity, public equity, and special situations; operational media background as EVP of Standard Media Group .
- Education: MBA (Columbia Business School) and Bachelor of Commerce (Honors) from Queen’s University .
- Board contribution: “strong investment, financial management and operational background in the media space” per Board rationale .
Equity Ownership
| Holder | Class A Shares Beneficially Owned | Class B Shares Beneficially Owned | Percent of Class | Voting Power Comment |
|---|---|---|---|---|
| Amit Thakrar | 12,856 | — | Less than 1% (as reported) | Included in “Directors” table; overall directors/officers as group <1% voting power |
| SG Broadcasting / Standard General | 42,945,193 (incl. conversion) | 5,413,197 | 80.01% (Class A); 100% (Class B) | 89.52% combined voting power |
Section 16(a) compliance: The company reports timely filings for directors in 2024, with exceptions only for Brian Kei (late Form 3) and Kudjo Sogadzi (late Form 4); no delinquency noted for Thakrar .
Governance Assessment
- Board effectiveness: Thakrar serves on Audit and Compensation—core oversight bodies—alongside independent chairs and an audit committee financial expert, supporting robust controls and pay oversight .
- Independence and attendance: Board deemed Thakrar independent; attendance thresholds met; participation across 2024 meetings indicates engagement .
- Alignment: Direct ownership is modest (12,856 shares); director fees primarily cash with ongoing retainer reductions; potential future equity via approved plan can improve alignment, bounded by non-employee director caps .
- Conflicts/RED FLAGS: MediaCo’s controlled status and SG Broadcasting’s ~89.5% voting power elevate influence risk; Thakrar’s Standard General affiliation and SMG employee leasing arrangement are related-party exposures requiring continued committee-level oversight and rigorous recusal where appropriate .
- Policies: Securities Trading Policy with blackout/restrictions and a clawback-enabled 2025 Equity Plan bolster governance hygiene; prohibition on option/SAR repricings without shareholder approval reduces pay-structure risk .