Waller Capital Advises Triad Broadcasting on Sale to L&L Broadcasting

MONTEREY, CA, November 30, 2012 – Triad Broadcasting Company, LLC, of Monterey California announced today that it has signed a Definitive Agreement to sell its 32 radio stations in five markets to L&L Broadcasting, LLC of Portland, OR.  The stations are located in Biloxi, Mississippi, Bluefield, West Virginia, Fargo, North Dakota, Hilton Head Island, South Carolina/Savannah, Georgia and Peoria, Illinois.

Triad founder and CEO, David Benjamin, said “We could not be more proud of our stations and the great people who staff them.  Our quality personnel, service to our communities, and financial track record have truly set a standard for small and mid-market radio.  We are absolutely delighted to turn these properties over to L&L CEO Larry Wilson and his team, with whom we are like-minded regarding both the critical importance of professional local staffing and the necessity of excellence in local programming.  We wish Larry every success as he builds on this Triad foundation.”

Larry Wilson added, “We are very excited about the acquisition of the radio assets of Triad.  After visiting each market and meeting with the great people David has assembled, we are more energized than ever to grow dominant clusters, assemble world-class talent and develop even more live and local programming to serve the wonderful communities that are home to these radio stations.”   Wilson is also Chairman of Alpha Broadcasting LLC, the owner of six radio stations in the Portland, Oregon market.

The transaction is pending FCC approval and is anticipated to close in the spring of 2013.

Waller Capital was the sole financial advisor to Triad.

Piper Jaffray & Co. assisted L&L Broadcasting in the transaction.