Connoisseur Media Sold To Management With Financing From Petrus Holding Co.
July 15, 2015 at 10:51 AM (PT)
PEROT CO. subsidiary PETRUS HOLDING CO. has joined with management to acquire CONNOISSEUR MEDIA, which operates 42 radio stations and digital assets in 12 markets across the U.S. The existing management team will continue to operate the stations, with PETRUS as their financial partner.
“We are very excited to partner with THE PEROT COMPANIES to continue our focused and disciplined growth strategy,” said CONNOISSEUR MEDIA CEO JEFFREY D. WARSHAW. “It is important for us to have a partner who shares our values and supports our long-term growth strategy.”
“The PEROT COMPANIES and CONNOISSEUR share common values, an entrepreneurial culture and a long-term approach to operating and building world-class companies,” THE PEROT COMPANIES Chairman ROSS PEROT, JR. said. “Our investment will allow CONNOISSEUR to continue investing in its people while ensuring it can remain prudently-financed, locally-focused and innovative.”
“We believe in the enduring importance of radio, which continues to be the media with the greatest reach among adults,” PETRUS HOLDING CO. Pres. STEVE BLASNIK said. "We jumped at the opportunity to invest with the most innovative management team in the business, a team that knows how to win. CONNOISSEUR has done an excellent job establishing a strong geographic presence in a competitive industry, and we look forward to helping them expand that reach.”