August 14, 2019
Seven Mountains Media (7MM) continues its rapid expansion, picking up hot AC WSBG (93.5) and sports WVPO (840) Wilkes Barre-Scranton, from Connoisseur Media for a price said to be in the low seven figures. The deal also includes the Stroudsburg-licensed translator W276DG at 103.1.
In less than five years, Seven Mountains Media has acquired 41 signals in seven markets in Pennsylvania and southern New York state.
“We are honored and proud to continue the great tradition of radio by investing in our stations, our people and our towns, while also incorporating innovation and technology into every aspect of our operations,” owner and CEO Kristin Cantrell said in a release. “It is an exhilarating time to be in the radio business.”
Philadelphia radio veteran Jim Loftus joined Seven Mountains Media as COO after leaving WBEB, following its sale to Entercom. He previously served in management roles at CBS Radio Philadelphia. Prior to his time in Philadelphia, Loftus managed stations in the Wilkes Barre-Scranton market.
“WSBG and WVPO are heritage stations that will be a perfect fit into the 7MM family,” Loftus added. “As a lifelong Pennsylvania broadcaster and a resident of the Northern Poconos, I am thrilled to welcome these iconic stations and terrific staff into Seven Mountains Media.”
The sale shows Connoisseur pulling further away from Pennsylvania. In April, Connoisseur dealt four stations in and around Allentown to Cumulus Media in exchange for a pair of Connecticut stations. Connoisseur also recently completed a swap of stations with iHeartMedia that included nine stations in Frederick, MD, Erie, PA and Mina, NY. The company also sold off its Billings cluster to Cam Maxwell, who served as Regional VP before forming Desert Mountain Broadcasting to purchase those stations. And in July 2018, Connoisseur sold CHR WPST (94.5) and sports “920 The Jersey” WNJE in Trenton, NJ and religious WCHR (1040) in the Monmouth-Ocean, NJ market to Townsquare Media for $17.3 million.