L&L And Alpha Merge, Buy Main Line Broadcasting
April 17, 2014 at 3:53 PM (PT)
LARRY WILSON's L&L BROADCASTING and ALPHA BROADCASTING are formally merging into a single entity, ALPHA MEDIA, and will buy MAIN LINE BROADCASTING for $57 million. The purchase adds 19 stations in LOUISVILLE, RICHMOND, DAYTON and HAGERSTOWN-CHAMBERSBURG.
WILSON, Chairman of L&L/ALPHA, said, “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.”
ENDEAVOUR CAPITAL Managing Dir. MARK DORMAN said, “We are proud to have partnered with ALPHA BROADCASTING over the past five years in the PORTLAND market. This merger is the result of the ALPHA team executing on its original disciplined growth plan, and we are excited to be a part of the new ALPHA MEDIA going forward."
L & L Pres./CEO BOB PROFFITT said, “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.”
MAIN LINE CEO MARC GURALNICK said, “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."