R. Steven Hicks
R. STEVEN “STEVE” HICKS, Austin, Texas, was appointed to a term on The University of Texas System Board of Regents by Governor Rick Perry in February 2009. He was reappointed in February 2011, and again in January 2015 by Governor Greg Abbott.
Vice Chairman Hicks was elected Vice Chairman by the Board on February 8, 2011, reelected as Vice Chairman on August 22, 2013, and May 13, 2015. He is Chairman of the Health Affairs Committee and serves on the Academic Affairs Committee, and the Audit, Compliance, and Risk Management Committee. Vice Chairman Hicks also serves on the UTIMCO Board of Directors. He previously served as Chairman of the Academic Affairs Committee; the Audit, Compliance, and Risk Management Committee; and the Finance and Planning Committee.
He owns and serves as Executive Chairman of Capstar Partners, LLC, a private investment firm. Capstar Partners is the controlling shareholder in DMX, Inc., a company engaged in the provision of business media services, including video, music, and scent technologies; Andrew Harper, a high-end travel publishing and services firm; and Harden Healthcare, a company engaged in the skilled nursing, home health, and related fields. Capstar Partners is the largest investor in CPO Commerce, an e-commerce company that partners with consumer product manufacturers to sell nonstandard inventory. Capstar also owns the Big EZ Ranch, a bed and breakfast lodge and real estate development in Montana.
Mr. Hicks, a veteran of the radio industry, founded and served as chief executive officer of Capstar Broadcasting Corporation. He led Capstar Broadcasting to a successful initial public offering on the New York Stock Exchange in 1998. In 1999, Capstar Broadcasting merged with Chancellor Media Corp and the combined company was renamed AMFM Inc. Mr. Hicks served as Vice Chairman and CEO of the new media division of AMFM until it was acquired by Clear Channel Communications in 2000. Prior to Capstar Broadcasting, Mr. Hicks cofounded and served as CEO of SFX Broadcasting, Inc. and led SFX Broadcasting to a successful initial public offering in 1993. Mr. Hicks bought his first radio station at age 29 and over the next 14 years acquired stations in Texas, Oklahoma, Louisiana, Tennessee, Mississippi, and South Carolina.
Mr. Hicks made radio history by inventing the local marketing agreement (LMA), the forerunner to radio duopoly, which dramatically changed how the broadcasting industry did business by allowing the consolidation of radio station operations. This innovation returned many radio stations to profitability, increasing the value of broadcast properties across the nation. Eventually, his new system of management helped persuade Congress to change the ownership rules in the Telecommunications Act of 1996.
In 1997, Mr. Hicks received the award for Radio Executive of the Year and was ranked one of the 10 Most Powerful People in Radio by Radio Ink. In 1996, he was honored as an Ernst & Young Entrepreneur of the Year and was recognized as Broadcaster of the Year by the Texas Association of Broadcasters.
Mr. Hicks serves on numerous charitable and professional boards including Harden Healthcare, DMX, Andrew Harper, CPO Commerce, Healthtronics, Inc. (NASDAQ: HTRN), and Austin Recovery. He also supports the Young Presidents' Organization, the Austin Museum of Art, and SafePlace. He has participated on The University of Texas at Austin Intercollegiate Athletics Council for Men and is a member of The University of Texas Silver Spurs Alumni Association. He graduated from The University of Texas at Austin with a bachelor's degree in Government.
last updated May 30, 2017