Friday, December 5, 2014

Saga Sells News Networks to Learfield

Learfield Communications has announced it intent to acquire the Minnesota and Michigan News and Ag Radio Networks from Saga Communications.

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.

Greg Brown
"We are very pleased to now have these important news and agriculture information services as members of our stable of radio networks," said Learfield President/CEO Greg Brown. "Saga is one of the country's most admired and successful radio companies and we appreciate the opportunity to add these quality services to our family of networks."

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."

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