iHM, Aloha Trust Enter Station Exchange with Connoisseur Media
|RADIO ONLINE | Wednesday, March 27, 2019|
iHeartMedia and the Aloha Trust have entered into a strategic station exchange with Connoisseur Media across two U.S. markets. Under the agreement, iHeartMedia will acquire six radio stations from Connoisseur Media in Erie, PA and one in Mina, NY and Connoisseur Media will acquire two stations from the Aloha Trust in Frederick, MD. The deal is expected to close in the second quarter of 2019, subject to FCC approval.
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 Connoisseur Media CEO Jeffrey Warshaw.
"We're very pleased to have the opportunity to expand our reach and establish a presence in the Erie and Mina markets," added iHeartMedia Allentown/Harrisburg Region President Dan Lankford. "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."