Qantum Communications Corporation Announces Agreement to Swap Assets of Radio Stations
STAMFORD, CT — May 14, 2014 — Qantum Communications Corporation announced today that it has agreed to swap substantially all the assets of its 29 radio stations to Clear Channel Media and Entertainment in exchange for substantially all the assets of Aloha Trust (of which it is the beneficiary) radio stations WALK-AM/FM serving Long Island, NY. Qantum has also agreed, in a simultaneous closing, to sell the assets of WALK-AM/FM to Connoisseur Media. Both transactions are subject to Federal Communications Commission approval and other customary closing conditions. …
Connoisseur Snags Buckley's Connecticut Stations
The stations Jeff Warshaw's group is purchasing are: WDRC AM/FM, Hartford, CT; WMMW AM, Meriden, CT; WWCO AM, Waterbury, CT; and WSNG AM, Torrington, CT.
Buckley President/ CEO Joe Bilotta said in a letter to employees, "After much reflection, the Board of Trustees has decided that the reality of the evolving competitive landscape, and our sincere desire to see this historic brand continue, are cause for a change in the ownership of our Connecticut properties. Our decision to negotiate with, and eventually sell WDRC AM/FM to Connoisseur, gives our audience, advertisers, and employees access to the considerable resources of this multi-dimensional media and entertainment company. For over half of a century Buckley Broadcasting has been the steward of these great call letters, and there is not a better company than Connoisseur to ensure the continued and accelerated future success of the WDRC brand." …