9-9-13
Dufort joins Jeff Warshaw's senior management team. Dufort will work alongside EVP/CFO Mike Driscoll and COO David Bevins. Dufort had previously been with Pamal Broadcasting for 12 years. Warshaw said, ?We are so pleased that Mike has joined the Connoisseur family. He will have plenty to do as we integrate all of our acquisitions and continue our efforts to be the best radio company in America."
2-14-2013
According to documents filed with the FCC today, Jeff Warshaw's Connoisseur Media will pay $40 million for the three Southern Connecticut stations Connoisseur is purchasing from Cox and contract rights to WYBC-FM. Cox announced the sale yesterday after putting the stations on the market in July. Connoisseur also owns stations on Long Island and Pennsylvania and clearly had his eye on another cluster close to those markets.
1-24-2013
The New Jersey Broadcasters Association announced that Connoisseur Media is joining the organization and Townsquare's Regional VP Greg Janoff will fill the seat of the recently departed Zoe Burdine-Fly. NJBA President Paul Rotella said, ?This is a significant moment of real growth for our association. I'm delighted to have Connoisseur and their CEO Jeff Warshaw join our association. We are also very fortunate to have new board members like Greg who share the NJBA Board?s enthusiasm for local radio and all things NJBA!?
Buying
The debtor group that applied to take over 10 NASSAU BROADCASTING stations in NEW JERSEY and PENNSYLVANIA in bankruptcy has moved in U.S. Bankruptcy Court to assign its right to buy the stations to JEFF WARSHAW's CONNOISSEUR MEDIA. NB BROADCASTING LLC, headed by DOUGLAS A. PLUSS, made a credit bid (by NASSAU's lenders led by GOLDMAN SACHS) of $38.7 million plus $1,633,890 for administrative costs and assumption of liabilities for the stations, which include Top 40 WPST and Religion WCHR-A/TRENTON; Spanish Sports WNJE-A (ESPN DEPORTES RADIO)/FLEMINGTON, NJ, Classic Hits WODE-F (99.9 THE HAWK)/EASTON, PA; Sports simulcast WEEX-A/EASTON, PA-WTKZ-A/ALLENTOWN, PA (ESPN 1230 AND 1320); Religion WBYN-A (THE LIGHT 1160)/LEHIGHTON, PA; Active Rock WWYY (107 THE BONE)/BELVIDERE, NJ; and Talk WVPO-A and Hot AC WSBG/STROUDSBURG.
"Rather than proceeding to close the section 363 sale transaction," the motion says, "the Agent has spent considerable time and effort over the past several months in an effort to attract a satisfactory purchaser who is willing to take an assignment of the Agent’s successful section 363 bid for such radio broadcast assets. As part of this process, the proposed purchaser (CONNOISSEUR) has requested that it be permitted to enter into a local programming and marketing agreement with the Debtors for the 10 stations which are the subject of the transaction and pending regulatory approval of the underlying sale – and, hopefully, approval – of the transfer and assignment of the licenses and a section 363 sale closing."
CONNOISSEUR has proposed an LMA before closing, paying $200,000 for each of the first two months, $100,000 for each of the third and fourth months, and $500,000 per month after that until closing or termination. The licensee will have the option to program 6-8a SUNDAY mornings.
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7-8-2012
The stations are WBZO-FM, WIGX-FM, WHLI-FM and WKJY-FM. The sale price for the stations was $23 million and they came from Barnstable Broadcasting. Connoisseur, run by Jeff Warshaw, owns and operates stations in eight other (mostly small) markets. Kalil and company brokered the deal along with Bergner & Company.