Townsquare Media is purchasing Connoisseur’s three New Jersey stations, WPST-FM 94.5, WNJE-AM 920, and WCHR-AM 1040 for $17 million. Connoisseur CEO Jeff Warshaw said, “This is a bittersweet deal for us. We are very proud of our talented team and their accomplishments in New Jersey. I’m confident that these stations will continue to thrive as part of the Townsquare family.”
Townsquare Co-Chief Executive Officer Dhruv Prasad said, “We are very excited to announce the acquisition of these radio stations, particularly WPST, one of the Northeast’s most respected and highest-performing CHR stations. Combined with our market-leading News/Talk radio station based in Trenton, NJ 101.5, and our existing portfolio of 10 other stations in the state of New Jersey, we believe these assets will enhance our ability to deliver high-quality, engaging, local content, and superior, multi-platform marketing solutions. This is the third strategic acquisition that we have announced within the past nine months, demonstrating our continuing commitment to investing capital at attractive values in our local media business.”
Ron deCastro, Market President/Chief Revenue Officer of Townsquare Trenton, added, “We are excited to welcome the talented Connoisseur New Jersey team to Townsquare. We respect their accomplishments and are excited to join forces with them to operate the leading radio brands in the region. We will now have even more market-leading assets at our disposal to deliver results to our customers.”
