Alpha Media’s purchase of Digity’s radio stations took a while but has now closed.
It’s a biggie, a $264 million deal that ends up with Alpha having 251 stations in 53 markets.
The company says this makes it the fourth largest broadcast company in the United States by station count and the third by market count.
It issued a statement from Chairman Larry Wilson: “In our fold is now an exceptional stable of diversified stations and markets; bigger markets like West Palm Beach and San Jose, to smaller markets like Mason City, Iowa and Myrtle Beach, South Carolina serving not only their towns but surrounding areas and communities.”
[Read Radio World’s recent profile of Larry Wilson.]
He thanked Digity CEO Dean Goodman and said, “We look forward to joining forces with the phenomenal people at Digity doing radio the right way.”
Media Services Group’s George Reed served as broker for Alpha. RBC Capital Markets LLC was the financial advisor and Cooley LLP was transaction and regulatory counsel to Digity.