Connoisseur Media — the media company led by CEO Jeff Warshaw — has announced intentions to purchase Alpha Media.
When the deal is completed, Connoisseur Media will consist of 218 radio stations in 47 markets, covering roughly 20% of all United States radio markets. Currently, Connoisseur Media operates 11 stations in New Haven, Connecticut; Nassau-Suffolk, New York; and metro Fairfield County, Connecticut. Alpha Media, meanwhile, operates in markets like San Antonio, Portland, Salt Lake City, and San Jose, among dozens of others.
“We are thrilled to welcome Alpha Media into the Connoisseur family. In getting to know the Alpha team, it has become clear that we share many of the same values — a passion for serving our local communities, a deep commitment to our clients, supporting our colleagues and fostering a culture of integrity, creativity and achievement,” Warshaw said in a statement.
“This transaction underscores our commitment to the irreplaceable role local broadcasters play in providing news, information and entertainment that truly resonates,” he continued. “Together, we will build an industry-leading platform of broadcast and digital. I could not be more excited to get started.”
Alpha Media will assume the Connoisseur Media name. The transaction is expected to close in the second half of 2025, pending approval from the Federal Communications Commission. Until the deal is officially enacted, Connoisseur and Alpha have entered into a Local Marketing Agreement for the Warshaw-led entity to assume operations of Alpha Media stations.
According to a statement from Connoisseur Media, financing for the transaction is being provided by Brigade Capital Management. The financial terms of the purchase agreement were not immediately made available.
The deal for Alpha Media to be purchased by Connoisseur Media comes after the company went through widespread job cuts last year in an effort to reduce costs. Dozens of staffers across a wide variety of markets saw their jobs eliminated as Alpha Media shrank its labor force. It also changed the formats of some AM radio signals to feature the Podcast Radio US format.
It is not the first time Connoisseur Media has considered purchasing another radio group. Jeff Warshaw previously attempted to purchase Cumulus Media in 2022. The offer from Warshaw at the time would have paid Cumulus Media stockholders between $15 and $17 per share. That deal was rejected, however, with Cumulus CEO Mary Berner stating that the offer undervalued the company. As of this publication, Cumulus Media shares are currently trading at 19 cents per share.
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