iHeartMedia and the Aloha Trust Announce Strategic Station Exchange with Connoisseur Media in Frederick, Md. and Erie, Pa. Markets

New York, N.Y. – March 27, 2019 – iHeartMedia and the Aloha Trust announced today a strategic station exchange with Connoisseur Media across two U.S. markets. Under the agreement, iHeartMedia will acquire six radio stations from Connoisseur Media in Erie, Pennsylvania and one in Mina, New York and Connoisseur Media will acquire two stations from the Aloha Trust in Frederick, Maryland. The agreement is expected to close in the second quarter of 2019, subject to FCC consent and other customary closing conditions.

Under the agreement, WRTS-FM, WRKT-FM, WXBB-FM, WTWF-FM, WJET-AM and WFNN-AM in Erie and WLTM-FM in Mina will join iHeartMedia. These seven stations will also be available on iHeartRadio, the all-in-one digital music, on demand, podcasting and live streaming radio service. Connoisseur Media will acquire WFRE-FM and WFMD-AM in Frederick from the Aloha Trust.

“iHeart is getting a remarkable team and an amazing array of brands. We have owned the stations for 13 years and have tremendous gratitude for the people of Erie. We are excited to enter the Frederick market with these legendary properties,” said Jeffrey Warshaw, CEO of Connoisseur Media.

“We’re very pleased to have the opportunity to expand our reach and establish a presence in the Erie and Mina markets,” said Dan Lankford, Region President of Allentown/Harrisburg for iHeartMedia. “We can’t wait to add these seven amazing brands to our family of platforms, and we know that Connoisseur Media is looking forward to adding WFRE-FM and WFMD-AM to their company.”

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About Connoisseur Media

Connoisseur Media owns/operates radio stations in Bridgeport, New Haven and Stamford, CT; Long Island, NY; Allentown, Erie and Stroudsburg, PA; and Billings, MT.

 

 

About iHeartMedia, Inc.

iHeartMedia (NASDAQ: IHRT) is the number one audio company in the United States, reaching nine out of 10 Americans every month. It consists of three business groups.

With its quarter of a billion monthly listeners, the iHeartMedia Multiplatform Group has a greater reach than any other media company in the U.S. Its leadership position in audio extends across multiple platforms, including more than 860 live broadcast stations in over 160 markets nationwide; its National Sales organization; and the company’s live and virtual events business. It also includes Premiere Networks, the industry’s largest Networks business, with its Total Traffic and Weather Network (TTWN); and BIN: Black Information Network, the first and only 24/7 national and local all news audio service for the Black community. iHeartMedia also leads the audio industry in analytics, targeting and attribution for its marketing partners with its SmartAudio suite of data targeting and attribution products using data from its massive consumer base.

The iHeartMedia Digital Audio Group includes the company’s fast-growing podcasting business -- iHeartMedia is the number one podcast publisher in downloads, unique listeners, revenue and earnings -- as well as its industry-leading iHeartRadio digital service, available across more than 500 platforms and 2,000 devices; the company’s digital sites, newsletters, digital services and programs; its digital advertising technology companies; and its audio industry-leading social media footprint.

The company’s Audio & Media Services reportable segment includes Katz Media Group, the nation’s largest media representation company, and RCS, the world's leading provider of broadcast and webcast software.

Visit iHeartMedia.com for more company information.