Connoisseur Media has agreed to sell its six-station Watertown, South Dakota cluster to local operator Riverfront Broadcasting, LLC, continuing the portfolio refinement strategy the company established with its Alpha Media acquisition last September.
The stations included in the sale are KLDO, KKSD, KIXX, KSDR-AM, KSDR, and KWAT-AM. The transaction is pending FCC approval and is expected to close in late summer. Kalil & Co. served as the exclusive broker. Wilkinson Barker Knauer represented Connoisseur; Marlow, Woodward & Huff represented Riverfront Broadcasting.
Connoisseur Media CEO Jeff Warshaw said, “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. 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.”
Riverfront Broadcasting President Carolyn Becker commented, “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.”
