Connoisseur Media buys Long Island stations for $23 million
Published 4:00 pm, Tuesday, March 27, 2012
Connoisseur Media, a Westport-based owner and operator of 22 radio stations in eight markets, has entered into an agreement to buy four Long Island, N.Y., stations owned by Barnstable Broadcasting for $23 million.
"We are so excited to have the privilege of continuing the legacy of service that Barnstable has created on Long Island," Connoisseur Chief Executive Officer Jeffrey D. Warshaw said in a statement released Monday. "These are great operations with terrific people. I was raised on Long Island and grew up listening to these stations."
The Long Island Radio Group run by Barnstable, a Newton, Mass.-based firm that entered the radio market in 1984, comprises WKJY 98.3 FM, WBZO 103.1 FM, WIGX 94.3 FM, and WHLI 1100 AM, according to a Connoisseur news release.
"We are grateful to our dedicated employees, who together with we have achieved so many years of success on Long Island, and we are happy to be passing the torch to a committed broadcaster like Connoisseur," Barnstable Chairman and Chief Executive Officer Al Kaneb said in a statement.
The group, located in the Farmingdale area, employs 56 full-time employees and a number of part-time workers, according to Barnstable.
The future of Barnstable, which has three workers at its headquarters and owns no other assets, is unknown, according to a Barnstable employee.
Kalil & Co. and Bergner & Co. were brokers on the deal.
Connoisseur Media owns or operates radio stations in Bloomington, Ill., Huntington, W.V., Billings, Mont., Wichita, Kan., Erie, Pa., Omaha, Neb., Rapid City, S.D., and Bismarck, N.D.