Alpha Media To Purchase Digity Radio Stations
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 (see below for full Market list).
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.
ALPHA MEDIA DIGITY ACQUISITION: FULL MARKET LIST
Palm Beach, FL
San Jose, CA
Saginaw-Bay City-Midland, MI
Myrtle Beach, SC
North Dallas, TX
Greenville-New Bern-Jacksonville, NC
Markets around Chicago, IL including Aurora, Il, Joilet, IL, Waukegan/Kenosha, WI
Albert Lea, MN/Austin, MN
North Mankato, MN
Redwood Falls, MN
Fort Dodge, IA
Mason City, IA