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Press Releases

Nassau Closes Purchase of Maryland AM/FM Combo

4/13/2005

Princeton, NJ -- Nassau Broadcasting Partners, L.P. (“Nassau”) announced today it has closed its acquisition of radio stations WARK-AM in Hagerstown and WWEG-FM (formerly WARX-FM) in Hagerstown/Frederick, Maryland from Manning Broadcasting, Inc. (“Manning”).

WARK is a Class “C” AM radio station broadcasting a Talk and Oldies format at 1490 kHz on the dial with 1,000 watts of power day and night. Its sister station WWEG, “The Eagle,” is a Class “B” FM station broadcasting a Classic Hits format at 106.9 mHz with 15,500 watts of power from 853 feet HAAT.

The Manning Broadcasting AM-FM combo joins WAFY-FM serving Frederick, MD as Nassau owned and operated radio stations. Nassau previously acquired WAFY-FM “Key 103.1” from Frederick Broadcasting L.L.C., owned by the Marmet family.

“We are delighted to be serving the fast growing suburbs north of Washington and west of Baltimore,” said Louis F. Mercatanti, Jr., Nassau’s President and Chief Executive Officer. “As with all of our stations, we are committed to providing great, local radio programming.”

Manning Broadcasting, led by its President, broadcasting veteran Eugene J. “Gene” Manning and Vice President Fred Manning, has been owned by the Manning family since 1982. The company owns no other radio stations.

A privately held firm in Princeton NJ, Nassau Broadcasting Partners owns, operates or has agreements to acquire 52 radio stations in New Jersey, Pennsylvania, Maryland, Vermont, New Hampshire and Maine. Pro forma for pending transactions, Nassau is the 28th largest broadcaster in terms of revenues and the 15th largest broadcaster in terms of the number of radio stations in the United States. The Company’s web site is www.nassaubroadcasting.com.

Glenn M. Serafin of Serafin Bros, Inc., a Tampa, Florida-based media brokerage and financial services company, advised Nassau in the acquisition. Manning Broadcasting was represented by broker Larry Patrick of Patrick Communications in Ellicott City, Maryland.