Alpha Media’s purchase of Digity was filed with the FCC.
Alpha will be paying $264 million for Digity’s 116 stations and six translators. As part of the deal Alpha will also assume Digity’s LMA of Sports “640 Sports” WMEN Royal Palm Beach and News/Talk 850 WFTL West Palm Beach, FL and a Shared Services Agreement to provide services to Matrix Broadcasting Classic Rock “103.9 The Fox” WFXF Dundee and AC “Star 105.5” WZSR Woodstock, IL.
Original Report 8/4: Alpha Media continues to grow at an expeditious pace as it nearly doubles in size with the acquisition of Digity Media and its 116 stations for an undisclosed price.
Digity was founded in 2013 when Dean Goodman purchased NextMedia’s radio holdings and merged them with his Palm Beach Broadcasting and GoodRadio.TV groups. The company then acquired Three Eagle Communications in 2014 to give them 113 stations across thirteen states. Among the markets Alpha will be expanding into are suburban Chicago and Dallas, Lincoln, Myrtle Beach, San Jose and West Palm Beach along with a bunch of unrated markets in the central states.
Once all announced acquisitions have closed Alpha Media will own 251 stations in 54 markets.
Alpha Media of Portland, Oregon announced today they have entered into a definitive agreement to purchase radio stations from Digity, LLC. Digity owns or operates 116 stations in 26 markets.
Larry Wilson, Chairman of Alpha Media will add the Digity markets to the one hundred thirty-five stations currently in the Alpha Media portfolio. When all pending deals are completed, it will bring the total number of stations owned by Alpha Media to 251. Commenting on the acquisition, Wilson said, “We are extremely pleased to be acquiring from exceptional operators and management who truly understand radio. Dean and his team have done a tremendous job with these stations. They will be a great addition to our live and local vision across the country.”
Dean Goodman, Chief Executive Officer of Digity Companies, LLC said, “Larry Wilson and I have a shared vision for the radio renaissance in progress now. Radio is live, local media enhanced by digital delivery and community focused events. Our success is the result of an employee environment of collaboration, transparency and innovation. I am honored to have worked with the great broadcasters at Digity and the dynamic growth they’ve created. Digity and Alpha are a perfect match.”
This transaction is subject to approval by the Federal Communications Commission and the Department of Justice.
George Reed of Media Services Group is the broker for Alpha Media. Piper Jaffray served as advisor to Alpha Media and RBC Capital Markets LLC served as financial advisor to Digity Media. Cooley LLP is legal counsel to Digity Media and Wiley Rein LLP is legal counsel to Alpha Media.
Upon the successful completion of all pending transactions, Alpha Media, headquartered in Portland, Oregon will own 251 radio stations within 54 markets across the United States covering all formats including Top 40, Adult Contemporary, Spanish, Urban, News Talk, Sports, Rock, Country and more. Inaddition to the radio stations, Alpha Media owns the intimate performance venues, Skype Live Studio in Portland, Oregon and Alamo Lounge in San Antonio, Texas.
The newly added Alpha Media stations are:
Western Chicago Suburbs: Classic Rock “95.9 The River” WERV
Fort Dodge: Classic Rock “92.1 The Eagle” KZLB, Hot AC “Mix 94.5” KKEZ, Country “K97” KIAQ, AC “Sunny 99.7” KXFT, Oldies “Hippie Radio 105.9” KTLB, Classic Country 540 KWMT and Talk 1400 KVFD
Luverne: Country “K101” KLQL and Standards 800 KQAD
Redwood Falls/St. Peter: Country/Farm 1490 KLGR/95.9 K240DJ, Classic Hits “Mix 97.7” KLGR-FM and AC “105.5 The River” KRBI
Waynesville/Lebanon: CHR 97.9 KFBD, Classic Rock “Z102.3” KOZQ-FM, Country 103.7 KJEL, Talk 790 KBNN, Sports “ESPN Radio 1270” KIIK and Talk 1390 KJPW
Madison: Country 103.1 KJAM-FM and Classic Hits 1390 KJAM
McKinney/North Dallas Suburbs: AC 97.5 KLAK