Alpha Broadcasting & L & L Broadcasting announced
today that they have entered into an agreement to merge the companies and upon
consummation of the merger, will become Alpha Media. The current corporate team
for Alpha Broadcasting and L & L Broadcasting will remain and operate the
company from the corporate headquarters in Portland ,
Oregon .
Alpha Broadcasting is headquartered in Portland ,
Oregon where it operates six stations.
L&L Broadcasting is also headquartered in Portland ,
Oregon and operates 43 stations in seven
markets. L&L has been overseeing the operation of the Portland
stations for the last year pursuant to a management agreement with Alpha.
ALPHA STATION ARE FAR FROM HOME BASE: Click Here.
ALPHA STATION ARE FAR FROM HOME BASE: Click Here.
Larry Wilson, Chairman and an investor in each company, said
that “the merger will be the culmination of a long term plan to ultimately
combine the two companies and will allow us to streamline our oversight of all
49 stations to take advantage of the many synergies.”
Larry Wilson |
L & L Broadcasting also announced today that it has
entered into an agreement to acquire 19 radio stations from Main Line
Broadcasting for $57 million. Main Line Broadcasting is headquartered in Philadelphia ,
Pennsylvania and operates 19 stations in
four markets including Louisville , KY ;
Richmond- Petersburg , VA ;
Dayton , OH
and Hagerstown , MD -Chambersburg ,
PA.
L & L Broadcasting President and CEO, Bob Proffitt
remarked, “We’ve worked hard to maintain strong community involvement and an
intimate connection with our listeners and advertisers in all of our markets,
I’m confident that we’ll be able to implement our mission of live and local
radio in the Main Line markets.”
“I am extremely proud of all of Main Line Broadcasting’s
employees who have done a phenomenal job over the years. I am pleased to have
these great broadcasters now under the leadership and vision of Larry Wilson
and Bob Proffitt. There’s not a better company than L&L Broadcasting to
ensure this continued success,” noted Main Line Broadcasting CEO, Marc Guralnick.
Media Venture Partners represented Main Line Broadcasting.
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