iHeartMedia and the Aloha Trust announced late on Wednesday a swap covering two markets. iHeartMedia will pick up six stations from Connoisseur Media in Erie, Pennsylvania, and one in Mina, New York. In return Connoisseur gets two stations from the Aloha Trust in Frederick, Maryland.
Under the agreement, WRTS-FM, WRKT-FM, WXBB-FM, WTWF-FM, WJET-AM, and WFNN-AM in Erie, and WLTM-FM in Mina, will join iHeartMedia. Connoisseur Media will acquire WFRE-FM and WFMD-AM in Frederick from the Aloha Trust.
“iHeart is getting a remarkable team and an amazing array of brands. We have owned the stations for 13 years and have tremendous gratitude for the people of Erie. We are excited to enter the Frederick market with these legendary properties,” said Jeffrey Warshaw, CEO of Connoisseur Media.
“We’re very pleased to have the opportunity to expand our reach and establish a presence in the Erie and Mina markets,” said Dan Lankford, Region President of Allentown/Harrisburg for iHeartMedia. “We can’t wait to add these seven amazing brands to our family of platforms, and we know that Connoisseur Media is looking forward to adding WFRE-FM and WFMD-AM to their company.”
The agreement is expected to close in the second quarter of 2019, subject to FCC consent and other customary closing conditions.
