• Connoisseur Media will acquire Alpha Media, creating a radio group with 218 stations in 47 markets.
• The deal is expected to close in the second half of 2025, pending FCC approval.
• The combined company will focus on local broadcasting and integrated digital marketing, aiming to strengthen community engagement.

Connoisseur Media has announced a definitive agreement to acquire Alpha Media, a deal poised to significantly expand Connoisseur's reach in the radio broadcasting sector. The merged operation, retaining the Connoisseur Media name and leadership under CEO Jeff Warshaw, will boast 218 stations across 47 markets, covering approximately 20% of the US population. This strategic acquisition underscores Connoisseur's commitment to local radio and integrated marketing services, aiming to bolster community engagement and provide enhanced resources for advertisers.

• What: Connoisseur Media is acquiring Alpha Media, creating a major radio broadcasting group with a combined 218 stations.
• Who: Key players include Connoisseur Media, Alpha Media, Jeff Warshaw (CEO of Connoisseur Media), and Brigade Capital Management (financing provider).
• When: The deal is expected to close in the second half of 2025, pending FCC approval. A Local Marketing Agreement is in place during the interim.
• Where: The combined company will operate across 47 markets, including San Antonio, Portland, Salt Lake City, Nassau-Suffolk, Palm Springs, and San Jose.

The acquisition of Alpha Media by Connoisseur Media represents a significant consolidation in the radio broadcasting industry. This strategic move allows Connoisseur to expand its market presence and leverage Alpha Media's established stations, particularly in key markets like Portland and San Antonio. The emphasis on local broadcasting and integrated digital marketing reflects a broader industry trend towards providing comprehensive solutions for advertisers and engaging with local communities. While Alpha Media faced financial challenges in the past, Connoisseur's investment and strategic direction aim to revitalize these stations and capitalize on the enduring value of local radio.

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 acquisition of Alpha Media by Connoisseur Media signifies a pivotal shift in the radio landscape, establishing a major broadcasting force with a combined portfolio of 218 stations across 47 markets, reaching roughly 20% of the US population. Expected to close in the latter half of 2025, pending FCC approval, this deal will position Connoisseur Media among the top 10 radio groups in the U.S. based on both station count and revenue. Retaining the Connoisseur name and leadership under CEO Jeff Warshaw, the merged entity aims to leverage Alpha's "live and local" approach with Connoisseur's focus on community connectivity, enhancing services for listeners and advertisers. By integrating Alpha Digital with Connoisseur's Ferocious Digital, the company seeks to expand its digital marketing capabilities, offering forward-thinking, integrated solutions. The industry will closely monitor how Connoisseur Media navigates the evolving media environment, capitalizes on strategic growth opportunities, and balances its commitment to local content with the financial realities of operating a large radio group.