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(9/1/2000) Nassau Broadcasting To Close On Nine Radio Stations By End Of September.
Nassau Broadcasting Partners L.P., a top-20 radio group with 32 radio stations in the Northeastern U.S., today announced that it has obtained private equity funding and will complete acquisition by the end of September on nine radio stations owned by Aurora Communications LLC. The Federal Communications Commission (FCC) has already granted approval for the acquisition. Terms of the private equity funding were not disclosed.
Nassau signed a definitive agreement in March 2000 to acquire WFAS (FM), WFAF (FM) and WFAS (AM) in Westchester, NY, WEBE (FM) and WICC (AM) in Danbury, CT, and WRKI (FM), WAXB (FM), WINE (AM, and WPUT (AM) in Danbury, CT. The stations will create Nassau’s fourth cluster and will be referred to as Nassau North.
Louis F. Mercatanti Jr., Nassau president and CEO, said, “We are pleased to announce another planned successful acquisition closing. In all areas of our business we have made substantial strides this year. Our sales revenue continues to pace in the double digits, and broadcast cash flow remains solid. Our private equity investors believe we have demonstrated the value of building our broadcasting company with a unique local market focus. Their funding commitment is a vote of confidence in Nassau’s ability to continue to produce superior revenue and broadcast cash flow growth.”
WFAF (FM) and WFAS (FM) simulcast an adult contemporary format. Nassau plans to relaunch WFAF (FM) with a new format by the end of 2001. A specific format has not been decided at this time. WFAS (AM) broadcasts a news/talk/sport format for Westchester County. In Bridgeport, WEBE (FM) also broadcasts an adult contemporary format, is a Class B FM station, broadcasting at 50,000 watts and ranks No. 2 in its target demographic audience group of women 25-54 years of age. WICC (AM) was Bridgeport’s first radio station and ranks number one among listeners 12 years of age and older in the Bridgeport metropolitan area; it broadcasts a full-service format, which includes news and information, long-term radio personalities, talk shows and specialty shows.
In Danbury, CT, WRKI (FM) carries an Album Oriented Rock format and is know to listeners by its brand name, “I-95.” WRKI (FM) also is a Class B FM station, broadcasting at 50,000 watts and covering Fairfield and New Haven Counties, CT, and parts of New York State. WAXB (FM) broadcasts an oldies format while WINE (AM) and WPUT (AM) broadcast adult standards.
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