The radio broadcasting company founded 22 years ago by Doyle and Carolyn Becker operating in communities across South Dakota and Minnesota has agreed to acquire a group of properties in Watertown, S.D., from the company based in Fairfield County, Conn., that acquired Alpha Media and, later, Bonneville’s San Francisco stations.
Riverfront Broadcasting has agreed acquire KIXX-FM, KLDO-FM, KSDR-AM & FM, and KWAT-AM in Watertown and sibling KKSD-FM in Millbank, S.D. from Connoisseur Media, the company founded and led by Jeff Warshaw.
The transaction, brokered by Kalil & Co., is pending regulatory approval by the FCC and is expected to close in late summer of this year; a Form 314 filing in the FCC’s LMS was pending as of midday Wednesday.
The acquisition, Connoisseur said, reflects its plan “to refine its portfolio and strengthen its presence in priority markets.” Additionally, the company said the deal is “a continuing element of the strategy established with the acquisition of the Alpha Media stations in September of last year.”
Warshaw commented, “The Watertown market was not a market we felt Connoisseur could make a material difference in with the focus and approach we bring to radio. As we have previously announced, we look for local, quality operators to purchase stations in markets Connoisseur is looking to exit. We have been talking with Carolyn Becker and her company for several months, and we think Riverfront Broadcasting, being a South Dakota based company, understands the local market and can carry on providing local content and will excel in serving the community.”
Carolyn Becker serves as President of Riverfront Broadcasting. She commented, “We are very happy to bring local ownership and local focus back to these great stations in the Watertown Market. Jeff and the Connoisseur team have taken an approach of selling to local ownership and we are grateful for the opportunity.”
Connoisseur Media had legal representation by Wilkinson Barker Knauer, while Riverfront Broadcasting was represented by Marlow, Woodward & Huff.
