radio stations sold

Four local radio stations — WLNH-FM (98.3), WBHG-FM (101.5), WEMJ-AM (1490) and WLKZ-FM (105) — are being acquired by Nassau Broadcasting Partners (NBP), a privately held firm headquartered in Princeton, New Jersey.

WLNH, WBHG and WEMJ, all based in Gilford, were owned by Sconnix Broadcasting of Vienna, Virginia, headed by Scott McQueen and Randy Odeneal. McQueen had owned WLNH, the first station to broadcast in New Hampshire and the fifth in the United States, for 29 years.

McQueen could not be reached for comment, but in 2000 he indicated in a Dartmouth alumni publication that he intended to start a yacht charter business in Boca Raton, Florida. Shortly afterwards Sconnix sold its eight radio stations in Iowa for a reported $84 million, leaving only the three stations in Gilford.

WLKZ (Oldies 105) was among seven stations in New Hampshire and Vermont, including WHOB-FM in Nashua and WNNH-FM in Concord, acquired by Tele-Media Broadcasting in 2000. All three stations have been acquired by NBP. Tele-Media is a Pleasant Gap, Pennsylvania-based company with cable television holdings, but no other radio stations. Veteran broadcaster Ira Rosenblatt is Vice President and CEO of Tele-Media.

"This is a pretty big deal," said Jack Beaton, general manager of WLNH, WBHG and WEMJ yesterday. "I think it will be good for the stations and good for the area." After meeting with Louis Mercatanti, Jr., CEO of NBP, and his management team, Beaton, described them as "radio people who understand community obligations. We had a very open meeting," he continued, "with no differences of opinion."

In particular, Beaton said the new owners were "legitimately very excited about the annual WLNH Children's Christmas Auction. They were impressed and agreed that this is the kind of thing radio needs to do." Likewise, Beaton was encouraged that NBP "tend to put money into their stations."

NBP, which had operated some 15 stations in New Jersey, Pennsylvania and New York, entered the New England market last month by acquiring six stations in coastal Maine (WYBA in Camden, WBQI in Bar Harbor, WQEZ in Kennebunkport, WBQQ in Kennebunk, and WBQW in Portland and Rockland). By acquiring the six New Hampshire stations, NBP nearly doubled its number of stations and presence in New England.

According to its website, the company aims to serve "mid-sized, affluent, suburban markets in the Northeast." It stations offer a variety of musical formats, from classic hits to adult contemporary, as well as news and religious programming. Mercatanti owns a quarter of the company while Spectrum Equity Investors of Boston and Menlo Park holds the balance.

Terms of the deals were not disclosed but a news release issued by NBP yesterday quoted Mercatanti as saying, "We really liked what we saw in southern Maine and New Hampshire." "We found dynamic business centers, an educated, upscale workforce and impressive retail sales activity. It's a lot like where we started — in New Jersey — so we'll fell right at home."

The transactions are subject to the consent of the Federal Communications Commission (FCC).