A first set of requests from the CEO of Connoisseur Media to produce a series of documents containing a wide range of information from co-defendants Soros Fund Management and Michael Del Nin, its head of media investments, is being challenged in a Fairfield County, Conn., Superior Court on the grounds of overreach.
Indeed, some of what Jeffrey Warshaw seeks could be construed as data which could give his newly expanded Connoisseur a competitive advantage over his radio industry peers.
As first reported on Tuesday morning by Streamline Publishing’s Radio Ink, Soros Fund Management — the majority interest holder in Audacy Inc. — and Del Nin are formally objecting to the discovery request from Warshaw and his legal counsel. Why? The obligations are “broader than, inconsistent with, not authorized under, or not reasonable” based on any rules applicable to the case.
As previously reported, Warshaw believes he should have been appointed CEO of Audacy, on the grounds Soros Fund Management cut him out of the audio content creation and distribution company’s post-bankruptcy plan. As Warshaw sees it, the road map to Audacy’s emergence from debtor-in-possession status is something he very much helped orchestrate. Thus, should have been appointed to a post today held by Kelli Turner.
Specifically, Warshaw asserts Del Nin broke a verbal agreement tied to Audacy’s post-bankruptcy restructuring, noting Del Nin pledged he would either be named Audacy CEO or receive a 5% share of Soros Fund Management’s profits from the transaction in exchange for identifying the investment and advising on its execution.
While key dates in the Warshaw-Soros/Del Nin legal matter now stretch into mid-2027, a 30-page objection filed on Monday (9/8) by defendants’ legal counsel at Wiggin and Dana in New Haven and Wilkie Farr & Gallagher (as pro hac vice) picks apart the request from Warshaw. Representing the Connoisseur CEO are attorneys from Finn Dixon & Herling in Stamford, Conn.; and as pro hac vice Kellogg, Hansen, Todd, Figel & Frederick PLLC.
Defendants’ counsel argues, first and foremost, that “the attorney-client privilege, the work product doctrine, the joint-defense privilege, the self-investigative privilege, or any other legally recognized privilege, immunity, exemption, or duty of confidentiality” applies here.
As such, Warshaw’s request goes too far, and as it is overly broad could include information deemed personal and/or confidential.
Defendants’ counsel breaks down each request from Warshaw, who seeks “all documents and communications” concerning him, such as “any contracts or agreements”; e-mails and communications mentioning him personally; records involving Connoisseur Media; investment committee presentations tied to Audacy; FCC submissions; and financial statements for Audacy and its affiliates dating from August 1, 2022, to the present.
The big concern from SFM and Del Nin? “Plaintiff is the Chief Executive Officer of Connoisseur Media LLC—a direct competitor to Audacy, Inc.—and Plaintiff should not be permitted to utilize this action to obtain broad swaths of irrelevant, sensitive business information about a competitor. Defendants also object to this Request on the basis that it seeks documents that contain sensitive information about SFM’s investment strategies and other competitors in radio.”
With Connoisseur Media now the owner of the former Alpha Media, vaulting Connoisseur into the Top 10 largest radio station ownership groups by AM/FM count and revenue, the concern could be judged as valid by the court.
Thus, request No. 7 from Warshaw — “Documents sufficient to identify all bases for Audacy’s decision to enter into a content distribution partnership with iHeartMedia” — are being assailed as unrelated to the case. “Plaintiff should not be permitted to utilize this action to obtain broad swaths of irrelevant, sensitive business information about a competitor company,” the legal counsel for SFM and Del Nin state.
Request No. 20 is also being blasted by the defendants. It seeks all communications or correspondence with HG Vora & Company analyst Kevin Holzgrefe or any other individuals associated with that organization regarding investments related to Cox Radio, Cumulus Media or Audacy.
Additionally, Warshaw has asked for compensation agreements for executives at other SFM media holdings such as spoken word audio platform Crooked Media and First We Feast, as well as information on SFM’s broader investments in radio, podcasting, and digital publishing.
The defense, in its objection, asks the court to narrow the relevant document timeframe to June 2023 through May 2025 as a remedy to Warshaw’s discovery aims. A confidentiality order is also being discussed to govern the handling of any sensitive financial materials.
— With reporting by Cameron Coats, in New York
