Nassau Broadcasting to Enter New Hampshire
Princeton, NJ -- Nassau Broadcasting Holdings, Inc. (“Nassau”) has entered into a definitive agreement to acquire the assets of three FM radio stations in New Hampshire from Tele-Media Company of New Hampshire, L.L.C. (“Tele-Media”). The transaction is subject to the consent of the Federal Communications Commission (“FCC”). Specific terms were not disclosed.
The radio stations to be acquired are WLKZ-FM serving Laconia from its city of license Wolfboro; WNNH-FM serving Concord from its city of license Henniker; and WHOB-FM serving and licensed to Nashua, all New Hampshire. The populations in the service contours of the three stations total 1,556,000 persons.
These are the first radio stations in New Hampshire that Nassau will own and operate. The transaction is expected to close routinely in spring 2004. Glenn Serafin of Serafin Bros., Inc., a financial services and media brokerage firm, represented Nassau in the transaction.
Just last month Nassau announced it would acquire (subject to FCC consent) nine FM and two AM stations serving Portland and other areas of southern coastal Maine. And, on New Year’s Eve it closed its $16 million acquisition of WOJZ, a Class “B 1” FM station in Egg Harbor City that serves the southern New Jersey Shore.
Nassau, a privately held firm based in Princeton, New Jersey managed by chairman Louis F. Mercatanti, Jr., is a leading radio broadcasting company that owns, operates and acquires radio stations primarily in the mid-sized affluent suburban markets of the northeastern United States. Post-closings, Nassau will own and/or operate 29 radio stations in suburban New York, Philadelphia, eastern Pennsylvania, Maine and New Hampshire.
“We really like what we saw in southern Maine and New Hampshire,” said Mr. Mercatanti. “We found dynamic business centers, an educated, upscale workforce and impressive retail sales activity. It’s a lot like where we started (in New Jersey), so we’ll feel right at home. We are looking forward to operating terrific local radio stations.”
Excluding the 14 stations yet to be acquired, Nassau radio stations have in excess of 1.2 million listeners weekly.
Tele-Media, whose Vice President and Chief Operating Officer is veteran broadcaster Ira Rosenblatt, is a Pleasant Gap, Pennsylvania-based company with cable television holdings, but no other radio stations. Its principals are Robert E. Tudek and the management team.
Serafin Bros., Inc., a Florida corporation, provides brokerage, finance and valuation services to select clients in the radio and television industries nationwide. Glenn M. Serafin, a 30-year veteran of the broadcast industry, formed Serafin Bros. in 1993.