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Connoisseur Media To Acquire Alpha Media In Merger
CONNOISSEUR MEDIA has entered into an agreement to acquire ALPHA MEDIA. The combined companies will retain the CONNOISSEUR MEDIA name and continue under the leadership of CONNOISSEUR MEDIA CEO JEFF WARSHAW. The deal is subject to FCC approval and is expected to close in the second half of this year.
Upon completion, CONNOISSEUR MEDIA’s broadcast footprint will grow to 218 radio stations in 47 markets, including SAN ANTONIO, PORTLAND, SALT LAKE CITY, NASSAU-SUFFOLK, PALM SPRINGS, and SAN JOSE. The expanded group will cover approximately 20% of the U.S. and will rank among the top 10 radio companies by both revenue and station count.
CONNOISSEUR MEDIA CEO JEFF WARSHAW said, “We are thrilled to welcome ALPHA MEDIA into the CONNOISSEUR family. In getting to know the ALPHA team, it has become clear that we share many of the same values, a passion for serving our local communities, a deep commitment to our clients, supporting our colleagues and fostering a culture of integrity, creativity and achievement.”
“This transaction underscores our commitment to the irreplaceable role local broadcasters play in providing news, information and entertainment that truly resonates. Together, we will build an industry-leading platform of broadcast and digital. I could not be more excited to get started.”
WARSHAW led a group in 2022 that attempted to acquire CUMULUS MEDIA for $1.2 billion with the intention of taking the company private. However, at the time, the CUMULUS Board of Directors concluded that allowing a takeover would have undervalued their company.
CONNOISSEUR MEDIA also plans to integrate its existing digital marketing arm, FEROCIOUS DIGITAL, with ALPHA DIGITAL, enhancing its capabilities in cross-platform advertising and client services.