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, Inc. [Nasdaq: IHRT] is the leading audio media company in America, with 90% of Americans listening to iHeart broadcast radio in every month. iHeart’s broadcast radio assets alone have a larger audience in the U.S. than any other media outlet; twice the size of the next largest broadcast radio company; and over four times the ad-enabled audience of the largest digital only audio service. iHeart is the largest podcast publisher according to Podtrac, with more downloads than the next two podcast publishers combined, has the most recognizable live events across all genres of music, has the number one social footprint among audio players, with seven times more followers than the next audio media brand, and is the only fully integrated audio ad tech solution across broadcast, streaming and podcasts. The company continues to leverage its strong audience connection and unparalleled consumer reach to build new platforms, products and services. Visit iHeartMedia.com for more company information.