The Company also assigned to SagamoreHill Midwest, LLC its options to acquire the assets owned by Surtsey Media, LLC and used in the operation of KVCT in the Victoria, TX market and KFJX in the Pittsburg, KS market.
The Company also announced the purchase the assets of:
- Country WCKN 92.5 FM
- AC WMXZ 95.9 FM
- UrbanAC WXST 99.7 FM
- AdultHits WAVF Chuck 101.7 FF
- Sports WSPO 1390 AM
- Translators W261DG and W257BQ
- AdultHits WVSC 103,1 FM
- Classic Hits WLHH 104.9 FM
- HotAC WALI 93.7 FM
- Translators: W256CB and W293BZ.
Edward K. Christian, President and Chief Executive Officer of the Company, said, “The Charleston stations are heritage radio stations that are very tightly focused on serving their local communities. Southern Living Magazine named Charleston the South’s Best City. The Hilton Head/Beaufort stations serve a regional market that will give us very strong development opportunities. Southern Living Magazine named Beaufort the South’s Best Small Town. We look forward to working with the existing staff to continue to serve these growing communities with great radio stations. Saga intends to continue building its business in radio by continuing to identify and acquire middle market stations.”
Saga expects to close both transactions, subject to the approval of the Federal Communications Commission, in September, 2017.