Breakwater Portfolio Company L&L Broadcasting Merges with Alpha Broadcasting

Leading Oregon-based radio broadcasting companies managed by Larry Wilson agree merger to streamline the oversight of their 49 stations and take advantage of synergies.

LOS ANGELES, April 2014 – L&L Broadcasting (“L&L”), a portfolio company of Breakwater Management, LP (“Breakwater”), and Alpha Broadcasting announced an agreement to merge, and upon consummation of the merger will become Alpha Media. Breakwater is a Los Angeles-based private investment firm that specializes in direct investments in leading lower middle market businesses that demonstrate attractive opportunities for growth

Alpha Broadcasting is headquartered in Portland, Oregon where it operates six stations. Breakwater portfolio company L&L is also headquartered in Portland, Oregon and operates 43 stations in seven markets. The current corporate team for Alpha Broadcasting and L&L will remain and operate the new Alpha Media from corporate headquarters in Portland.

Radio veteran Larry Wilson, Chairman of both L&L and Alpha Broadcasting, said that the merger is “the culmination of a long-term plan to ultimately combine the two companies and will allow us to streamline our oversight of all 49 stations to take advantage of the many synergies.”

“We are very excited to be a part of Alpha Media going forward,” said Saif Mansour, Founding Partner at Breakwater. “Larry Wilson and his team are in the process of building a high-growth nationwide market leader in the radio broadcasting industry, as they did previously with Citadel Communications. This is a very exciting juncture in the growth of this Breakwater portfolio company.”

Prior to L&L and Alpha Media, radio veteran Larry Wilson founded Citadel Communications in 1984, starting with only two radio stations. In 2001, Citadel Communications was sold to Forstmann Little with over 200 stations for $2.1 billion. Larry and his team are now looking to repeat their previous remarkable success under the Alpha Media platform.


Breakwater Management is a private investment firm that specializes in direct investments in leading lower middle market growth companies, especially businesses with expanding global operations. The firm aligns itself with committed management teams, owners, and sponsors to help propel lower middle market businesses into their growth curve. Breakwater has an established, world-class alternative asset management platform, with multiple partnerships and investment vehicles that service the lower middle market’s myriad capital needs.

To learn more about Breakwater, visit or call (424) 777-4000.

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Dear friends,

It is with profound sadness that we relay news of the recent death of our partner Saif Mansour. Saif passed away suddenly on October 27th due to an undiagnosed heart condition.

Saif founded Breakwater in 2009 as a young entrepreneur, with the vision of creating an investment firm that reflected his commitment to excellence, integrity, and long-term partnership. He was an incredibly intelligent, energetic, kind, and charismatic person, and a great connector of people who brought joy to everyone who knew him. He was a talented investor, a wonderful friend, and a natural leader.

Saif’s passion for Breakwater was surpassed only by his enormous love for his wife and their two young children. We grieve with them and extend our deepest sympathies to all of his family and friends.

We are heartbroken by this terrible loss but will honor Saif’s memory by continuing to build a firm that reflects his entrepreneurial spirit and core values. May his memory be a blessing to us all.

The Breakwater Family

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