Nassau to Enter Cape Cod Radio Market
Princeton, NJ -- Nassau Broadcasting Partners, L.P. (“Nassau”) announced today it has entered into a comprehensive agreement with Qantum Communications Corporation, (“Qantum”), the Cape Cod Trust (the “Trust”), and other parties to acquire three FM radio stations licensed to communities in Cape Cod, Massachusetts, the 185th largest radio market in the United States.
The stations being acquired by Nassau are WPXC-FM, a Class “A” radio station at 102.9 mHz on the dial licensed to Hyannis, MA; WTWV-FM, a Class “A” radio station at 101.1 mHz licensed to Mashpee, MA; and WDVT-FM, a Class “A” radio station at 93.5 mHz licensed to Harwich Port, MA.
The three subject stations were required to be held in a trust or sold after Qantum acquired certain stations in Cape Cod recently in two separate transactions. Qantum, based in Stamford, Connecticut led by industry veteran Frank Osborn, owns and/or operates more than 30 radio stations.
“Like most of the other markets we serve, Cape Cod is a retail-rich destination with upscale demographics and high growth rates,” said Lou Mercatanti, Nassau’s Chairman and President. “In other words, it’s a tremendous place for our staff to produce great local radio. These stations are great additions to our growing New England platform and we are very happy to be there.”
Glenn Serafin of Serafin Bros., Inc., a Tampa, Florida-based media brokerage and financial services company, advised Nassau in the transaction. The Trust and Qantum were represented by Doug Ferber of Star Media, a Texas media brokerage firm.
Nassau Broadcasting Partners, L.P. is a privately held firm based in Princeton, New Jersey. Pro forma for all pending acquisitions, Nassau will own and/or operate 55 radio stations in New Jersey, Pennsylvania, Maryland, Vermont, New Hampshire, Massachusetts and Maine and is the 14th largest broadcaster in the United States in terms of the number of radio stations it owns. The Company's web site iswww.nassaubroadcasting.com.