The purchase agreement is effective immediately and terms of the transaction were not disclosed.
The news networks in Minnesota and Michigan have been reporting state news for decades and provide news reporting services to dozens of stations. The farm networks in those two states produce and distribute agricultural news, markets, and weather information to radio stations in key growing areas.
The networks will continue to operate and distribute their current program schedules, while all announcers and reporters are now employees of Learfield. In addition and as part of the acquisition, Learfield will now manage radio network distribution on behalf of several sports teams throughout Michigan and Minnesota.
Learfield, which was founded in 1972, began as a regional news and farm radio network. This acquisition brings to seven the number of state radio news networks operated by Learfield.
"Learfield is very well respected in the radio business and has a proven track record in network operation," said Saga President/CEO Ed Christian. "The service Learfield provides to its affiliate radio stations is unmatched and its news and agriculture networks are first rate. We are pleased to reach this agreement with such a quality organization to now operate these networks that are so important to the regions they serve."