Connoisseur Selling KBAY To K-Love, Inc.
• Connoisseur Media announced that it has entered into an agreement to sell its 94.5 FM signal licensed to Gilroy, CA (currently broadcasting as KBAY-FM and home to the company’s Bay Country format) to Christian broadcaster K-Love, Inc. for $2 million.
The good news: The KBAY-FM call letters and intellectual property will be retained by Connoisseur, and the sale of the 94.5 frequency does not include the current operation or the format of Hot AC sister KEZR (Mix 106.5), Connoisseur’s flagship station in San Jose.
“We were approached about selling our frequency to K-Love, Inc., who want to expand their Christian offerings in the San Jose market with the addition of the 94.5 FM frequency,” said Jeff Warshaw, Founder & CEO of Connoisseur Media, adding, “We found a way to do that but retain our KBAY-FM Country format. Stay tuned!”
This pending sale reflects Connoisseur Media’s ongoing plan to refine its portfolio and best utilize its assets in priority markets like the Bay Area. The sale is a continuing element of the strategy established with the acquisition of the Alpha Media stations last September, and the Bonneville San Francisco acquisition last month.
The transaction is pending FCC approval and is expected to close in early Fall.
Michael Bergner of Bergner & Co. was the exclusive broker on the transaction. Connoisseur Media had legal representation by Wilkinson Barker Knauer, LLP.
