On the heels of a deal that will see Connoisseur Media sell a group of Bakersfield, Calif., radio stations, the rapidly evolving — and growing — radio station ownership group led by Jeff Warshaw has struck a deal that sees it exiting a small market in mid-America.
As first reported by Streamline Publishing’s Radio Ink on Tuesday morning, Connoisseur Media revealed it is divesting fifteen Missouri radio stations to Carter Media.
The licensee is acquiring the following properties from Connoisseur:
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KAAN-AM & FM in Bethany, Mo.
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KWIX-FM in Cairo, Mo.
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KMRN-AM & KKWK-FM in Cameron, Mo.
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KIRK-FM in Macon, Mo.
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KTCM-FM in Madison, Mo.
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KWIX-AM & KRES-FM in Moberly, Mo.
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KBNN-AM & KJEL-FM in Lebanon, Mo.
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KFBD-FM, KOZQ-FM, KJPW-AM and KIIK-AM, all licensed to Waynesville, Mo.
Like the Bakersfield properties, these Show-Me State properties were acquired when Connoisseur assumed control and the outstanding debt of the former Alpha Media.
Connoisseur’s remaining Show Me State holdings in Farmington, Mo., are not included in this transaction and another buyer is expected to be announced in the coming weeks or months.
Terms of the Carter Media deal were not disclosed; a Form 314 filing in the just-reopened LMS is expected within days.
The transaction is expected to close early next year, pending FCC approval. Kalil & Co. served as broker for the transaction. Connoisseur was represented by Wilkinson Barker Knauer LLP, while Carrollton-based Carter Media was represented by Gregg Skall‘s Telecommunications Law Professionals PLLC.
A NON-ESSENTIAL ASSET DEAL
The sale of this group of Missouri radio stations by Connoisseur “is another step in the company’s efforts to concentrate on markets where it can execute its successful playbook,” the Connecticut-headquartered licensee said.
Warshaw added, “These Missouri markets did not fit into the long-term plans we have to grow Connoisseur. We looked for another broadcaster that had success in and served these communities. We are pleased that we have found that trusted party in Miles Carter and the history of his family-oriented company.”
Carter commented, “We have wanted to expand for a while and when the opportunity came, we were eager to talk with Connoisseur. As we look toward the new markets, our mission remains the same: bring trustworthy local news, agriculture coverage, and community-focused storytelling to areas that need a stronger voice. Expansion isn’t about getting bigger, it’s about serving more people with the kind of reliable, hometown broadcasting Carter Media was built on.”
— Reporting by Cameron Coats, with additional reporting by Adam R Jacobson
