For weeks, media brokers and industry observers have been awaiting news on a transaction that many believed would be announced one month ago, as radio business leaders gathered in Las Vegas for the 2025 NAB Show. Now, rumors have become reality: Jeff Warshaw has secured the financing needed to move forward with his Connoisseur Media‘s acquisition of Alpha Media.
The two companies on Friday morning confirmed that they have entered into a definitive agreement in which Alpha will be acquired by Connoisseur.
The combined company will shed the Alpha name, first associated with former head Larry Wilson, and retain the Connoisseur name. The combined company will be led by Warshaw.
Speaking to RBR+TVBR midday Monday, Warshaw said he’s excited to be getting in to work with such a strong group of radio stations, and that an LMA will allow Connoisseur to operate the properties before it will own them.
Regulatory approval is widely expected, and once the deal is done, Connoisseur’s broadcast footprint will be comprised of 218 radio stations in 47 markets. The majority of those properties are associated with Alpha Media, as Warshaw’s Connoisseur today is comprised of six radio brands serving Southern Connecticut and five radio brands targeting listeners on New York’s Long Island.
Alpha, presently under CEO Bob Proffitt and COO Larry Bastida, has a stable of stations stretched across 22 markets. Among them are its home market of Portland, Ore.; and key markets including Anchorage; San Antonio; Palm Springs and San Jose, Calif.; Dayton, Ohio; Louisville; Jackson, Miss.; and Columbia, S.C.
At close, Connoisseur will rank among the top 10 radio groups both by station count and by revenue, uniquely positioned to evaluate and pursue strategic growth opportunities.
Combining Alpha’s “live and local” philosophy with Connoisseur’s focus on community connectivity, the new platform, Connoisseur says, “will be focused on better serving the needs of its local listeners and advertising partners. In addition to its broadcast properties, Connoisseur currently owns and operates Ferocious Digital, a leading provider of digital marketing services. When integrated with Alpha Digital, the combined organization will continue to expand and enhance its digital capabilities – delivering forward-thinking integrated marketing services.”
In prepared comments, 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.”
The parties expect closing to occur “in the second half of 2025.”
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Guggenheim Securities is serving as exclusive financial advisor and Wiley Rein is serving as legal counsel to Alpha.
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McDermott, Will & Emery and Wilkinson Barker Knauer are serving as legal advisors to Connoisseur.
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Financing for the transaction is being provided by Brigade Capital Management.
