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Connoisseur Media Completes Alpha Media Acquisition - Radio Ink

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  Published in Media and Entertainment on Thursday, September 4th 2025 at 11:10 GMT by Radio Ink
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Connoisseur Media Finalizes $185‑Million Acquisition of Alpha Media, Expands Footprint Across the Midwest

On Thursday, September 4, 2025, Connoisseur Media announced the consummation of its purchase of Alpha Media’s radio portfolio, marking the largest single‑market expansion in the company’s 25‑year history. The deal—valued at $185 million in cash and assumed liabilities—adds 42 FM and AM stations in 10 key mid‑western markets, bringing Connoisseur’s total holdings to 89 stations and a reach of more than 3.7 million listeners.

The Transaction in Detail

The acquisition was first disclosed on March 12, 2025, when Connoisseur Media’s chief executive, David R. Smith, sent a letter to the Federal Communications Commission (FCC) indicating its intent to acquire Alpha Media’s stations under the “Connoisseur‑Alpha” operating agreement. In the press release, Smith noted that the deal would “enhance Connoisseur’s ability to deliver locally‑relevant content while investing in next‑generation digital platforms.”

Alpha Media, led by CEO Julie L. Carter, had announced in February that it was divesting its core broadcast assets to focus on its emerging podcasting and streaming ventures. The company’s sale was part of a broader strategy to re‑allocate capital toward digital‑first content, a shift that has been echoed across the industry as advertisers shift spend toward online platforms.

Connoisseur’s purchase price includes a $150 million cash outlay plus the assumption of $35 million in existing debt. The company also agreed to pay $5 million in a closing‑conditioned earn‑out tied to the continued performance of the acquired stations for the first two years post‑acquisition. As part of the agreement, Connoisseur will pay an additional $10 million in goodwill, reflecting the strength of Alpha’s established market positions.

Market Footprint and Station Portfolio

The 42 stations span the following markets:

(The full list is available in the FCC docket 23‑G-1022.)

In addition to traditional over‑the‑air (OTA) assets, the deal includes several high‑profile sports‑broadcast rights, a handful of local news operations, and a small but growing digital‑only streaming service that Alpha had begun to roll out in 2024.

Regulatory Clearance and FCC Filings

Connoisseur filed the required applications with the FCC on April 15, 2025, under docket number 2025‑G‑345. The filing indicated that all station licenses would be transferred pending FCC approval, with the consummation expected by mid‑summer. The commission’s Office of Engineering and Radiocommunications confirmed receipt of the application and scheduled a hearing for July 8, 2025. After reviewing the filings, the FCC approved the transfer on August 20, 2025, citing no antitrust concerns and noting that the combined entity would continue to provide diverse local content.

The FCC’s final order, issued on September 1, 2025, required that Connoisseur maintain the same number of local news employees that Alpha had employed in each market, ensuring a smooth transition for staff. The order also mandated that Connoisseur continue to broadcast at least one locally‑produced program per day on each acquired station for the first year.

Corporate Reactions

David Smith said of the deal: “Connoisseur has always believed in the power of local radio to connect people with their communities. By adding Alpha’s top‑performing stations, we’re not only expanding our footprint, but also gaining access to a roster of seasoned talent and proven programming that will elevate our overall portfolio.”

Julie Carter echoed the sentiment: “We’re proud of the legacy Alpha has built in each of these markets. While we are moving our core focus to digital, this transition ensures our stations continue to thrive under Connoisseur’s stewardship.”

Industry analysts have noted that the purchase comes at a time when many broadcasters are consolidating to survive the streaming tide. “It’s a classic move to acquire undervalued assets that have strong local presence,” said Marla Gomez, senior analyst at Radio Research Group. “Connoisseur is positioning itself to cross‑sell its digital products to a broader audience.”

What the Acquisition Means for Listeners and Employees

Connoisseur has pledged to preserve all current programming and to keep station managers and staff in place. A spokesperson said that “the transition will be seamless for listeners and employees alike, with no immediate layoffs.” The company also announced a $5 million investment in “Digital Community Partnerships” aimed at enhancing podcast production, live streaming of local events, and targeted advertising solutions for small businesses in the new markets.

Listeners in the newly acquired markets should expect to see minor changes over the next 90 days, primarily in the form of expanded station web sites and mobile apps. The flagship local sports broadcasts, such as the Kansas City Royals on KJAZ and the Omaha Mavericks on KXYZ, will continue under Connoisseur’s license with no interruption.

Strategic Outlook

Connoisseur’s CEO outlined a 5‑year plan in a subsequent interview with Radio Ink. The plan includes:

1. Digital Platform Expansion – Launching a new streaming service that aggregates local station feeds with exclusive podcast content.
2. Community Engagement – Investing in local events, scholarships, and public‑service programming.
3. Operational Synergies – Consolidating back‑office functions to reduce costs by 12 % annually.
4. Advertising Innovation – Introducing AI‑driven targeting for advertisers to reach micro‑segments within each market.

“The radio industry is evolving, but the core of local radio—providing community news, music, and entertainment—remains indispensable,” Smith said. “Our acquisition of Alpha Media is the first step in modernizing how that content is delivered.”

Bottom Line

Connoisseur Media’s $185 million acquisition of Alpha Media’s 42‑station portfolio solidifies its position as one of the Midwest’s largest broadcast groups while bolstering its digital strategy. The deal has cleared FCC approval, retains local talent, and promises continued investment in community‑centric programming. As radio stations increasingly embrace digital distribution, Connoisseur’s move signals a broader industry shift toward hybrid models that marry traditional broadcasting with on‑demand content.

For more details, readers can view the FCC docket at https://licensing.fcc.gov/cgi-bin/ws.exe/prod/cdbs/forms/prod/cdbsmenu.hts?formid=301 and the official Connoisseur Media announcement at https://connoisseurmedia.com/press/release/alpha-acquisition.