Warshaw has no limits for new Connoisseur

July 18, 2006 – The new Connoisseur Media is now in eight markets, with 15 stations on the air or their purchase pending and three still unbuilt CPs, out of the 10 that launched the company. We asked CEO Jeff Warshaw, what are you looking for in acquisitions? “Obviously, where we think we can add value,” Warshaw answered. He said his company has the resources to do the research and promotion that some competitors don’t. “We see opportunities in areas like yield management that were really renowned for. We think that’s a really important discipline. That’s a core discipline for our company. We feel one of the things that we are well known for was our rigorous training and developing people.” Unlike most radio companies, Connoisseur ins’t targeting a particular market size range. “I’ve looked at deals from the largest markets to unrated markets. I think we feel comfortable operating anywhere. We feel that our dedication to quality broadcasting works regardless of the size of the market,” he said. Do you have an idea of how large the company is going to be and how soon? “No idea. I would bet that it will be larger that it is today. Our biggest constraint will be bringing in the kind of people that we need to build the kind of company that we want to build. It’s certainly not capital and we have the experience – we’re looking to continue to bring in the best people to make it happen,” Washaw said. That’s what makes him bullish on radio at a time when it is out of favor on Wall Street.

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