February 25, 2016 – Alpha Media Portland, OR announced today they have closed the purchase of Digity radio stations.
Alpha Media will add the Digity markets to the one hundred thirty-seven stations currently in the Alpha Media portfolio. The closing of Digity, LLC brings the total number of stations owned or operated by Alpha Media to 251 in 53 markets. With the acquisition of Digity, LLC Alpha Media has become the 4th largest broadcast company in the country in terms of station count and the 3rd largest in terms of market count.
Larry Wilson, Chairman of Alpha Media commented on the announcement, “We are very pleased to get this remarkable transaction done resulting in making Alpha the 4th largest radio company in America. 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. It has been a tremendous pleasure to work with respected broadcaster, Dean Goodman, and his management team. We look forward to joining forces with the phenomenal people at Digity doing radio the right way.”
“I have been honored to work with the great broadcasters of Digity. They know their roots are in live and local and their future is dynamic. They will excel as individual and collective entrepreneurs with Alpha. We hand off a thriving company, up this year at top of the industry. I wish Larry, Donna, Bob and team all the best, they have assembled a great platform.” Dean Goodman, CEO of Digity, LLC remarked.
RBC Capital Markets, LLC acted as sole financial advisor and Cooley LLP as transaction and regulatory counsel to Digity.
George Reed of Media Services Group is the broker for Alpha Media.