Connoisseur Media is continuing to divest former Alpha Media markets outside of the company’s vision for the future, as the broadcast group will sell its Luverne, MN, and Madison, SD, radio stations into local broadcast ownership.
Christensen Broadcasting LUV LLC will acquire KLQL and KQAD-AM in Luverne, while Christensen Broadcast Group, Inc. will acquire KJAM and KJAM in Madison. The sales are pending FCC approval and are expected to close early next year. No sales price was included in the announcement.
It was revealed through FCC Licensing and Management System filings that Connoisseur is selling its Bakersfield, CA cluster to Frequency Broadcasting for just $1 upfront, with future payments tied entirely to performance. Under the earn-out agreement, Connoisseur will receive portions of Broadcast Cash Flow, Z Entertainment-related revenue, and future resale proceeds through 2030.
The company also agreed to sell off 15 stations in Missouri, with specifics on that deal also pending.
Kalil & Co., Inc. served as the broker on the transactions. Connoisseur was represented by Wilkinson Barker Knauer, LLP, and the Christensen companies were represented by Fletcher, Heald & Hildreth, PLC.
Christensen Broadcasting said, “We are grateful for the opportunity to strengthen locally focused broadcasting within these communities. Our organization remains committed to delivering reliable, community-centered programming that reflects the values and voices of the region. We look forward to honoring each station’s legacy while supporting their continued growth and service.”
Connoisseur Media Founder and CEO Jeff Warshaw said, “We looked for local operators that we felt had experience in these communities and could serve them best. We are very happy that Christensen Broadcasting shares our values and stepped up to the challenge.”
