Connoisseur Sells S. Dakota Group To Riverfront
• Connoisseur Media continues its plan to refine its portfolio and strengthen its presence in priority markets with the announcement that it has entered into an agreement to sell its Watertown, SD radio stations to Riverfront Broadcasting, LLC — KLDO-FM, KIXX-FM, KSDR-AM & KSDR-FM, and KWAT-AM, all licensed to Watertown, SD, and KKSD-FM, licensed to Millbank, SD.
The sale is a continuing element of the strategy established with the acquisition of the Alpha Media stations last September. “The Watertown market was not a market we felt Connoisseur could make a material difference in with the focus and approach we bring to radio,” said Jeff Warshaw, Founder and CEO of Connoisseur Media. “As we have previously announced, we look for local, quality operators to purchase stations in markets Connoisseur is looking to exit. We have been talking with Carolyn Becker and her company for several months, and we think Riverfront Broadcasting, being a South Dakota-based company, understands the local market and can carry on providing local content and will excel in serving the community.”
Carolyn Becker, President of Riverfront Broadcasting, LLC, remarked, “We are very happy to bring local ownership and local focus back to these great stations in the Watertown Market. Jeff and the Connoisseur team have taken an approach of selling to local ownership and we are grateful for the opportunity.”
The transaction is pending regulatory approval by the FCC and is expected to close in late summer. Kalil & Co. Inc. was the exclusive broker on the transaction.
Connoisseur Media had legal representation by Wilkinson Barker Knauer, LLP, while Riverfront Broadcasting, LLC was represented by Marlow, Woodward & Huff, PLLC.
