Connoisseur Media's Strategic Move: Selling Watertown Stations to Riverfront Broadcasting
Connoisseur Media, a prominent player in the radio broadcasting industry, has recently made a strategic decision to sell its six Watertown, South Dakota, stations to Riverfront Broadcasting. This move is part of a broader strategy to focus on specific markets where the company can make a significant impact. The transaction, pending FCC approval, is expected to be finalized in late summer.
A Focus on Local Content and Community Engagement
Jeff Warshaw, founder and CEO of Connoisseur Media, explains the decision, stating that the Watertown market was not a priority for the company's current focus and approach. However, the company has been in discussions with Carolyn Becker, the president of Riverfront Broadcasting, for several months. Warshaw believes that Riverfront Broadcasting is well-positioned to continue providing local content and engaging with the Watertown community.
Riverfront Broadcasting, founded by Carolyn and her husband, Doyle, in 2004, operates 21 AM and FM radio stations in South Dakota and Minnesota. The Beckers' commitment to local broadcasting is evident through their recognition as South Dakota Broadcasters of the Year in 2014 by the South Dakota Broadcasters Association. Carolyn's participation in the Broadcast Leadership Training program further underscores her dedication to the industry.
The Watertown Stations: A Diverse Portfolio
The six Watertown stations include four FM stations with 100 kW signals: 92.9 KSDR(FM), 96.1 KIXX(FM), 96.9 KDLO(FM), and 104.3 KKSD(FM), with the latter licensed to Millbank. Additionally, the transaction involves two AM stations: 950 KWAT(AM) and 1480 KSDR(AM). This diverse portfolio of stations showcases Riverfront Broadcasting's commitment to covering various aspects of the Watertown community.
A Smooth Transition with Expert Representation
Kalil & Co., Inc. acted as the broker for this transaction, ensuring a smooth process. Connoisseur Media was represented by Wilkinson Barker Knauer, LLP, while Riverfront Broadcasting had the support of Marlow, Woodward & Huff. These legal and brokerage arrangements further emphasize the professionalism and dedication to a successful transition.
In conclusion, Connoisseur Media's decision to sell its Watertown stations to Riverfront Broadcasting highlights the importance of local content and community engagement in the broadcasting industry. The transaction also demonstrates the strategic focus on markets where a company can make a meaningful impact. As the sale progresses, Watertown residents can anticipate continued local programming and a seamless transition to new ownership.
