Saga Communications, Inc. announced today that it has entered into an agreement to purchase the assets of WKOA (FM), WKHY (FM), WASK (FM), WXXB (FM), WASK (AM) and W269DJ from Neuhoff Communications, Inc. serving the Greater Lafayette, IN radio market.
Chris Forgy, President and Chief Executive Officer of Saga Communications, said, “We regretted missing the opportunity to acquire these stations a number of years ago when the Neuhoff family acquired them. These stations are a great fit for Saga. We see a lot of opportunity with these stations and this market and are pleased that the family has decided to entrust Saga with continuing these station’s long-standing heritage of serving the Greater Lafayette region. Saga intends to continue building its business in radio by identifying and acquiring middle market stations in dynamic communities.”
Saga owns or operates broadcast properties in 27 markets, including 79 FM, 33 AM radio stations and 80 metro signals.
Neuhoff recently announced its intention for exit radio ownership. Clusters in Decatur and Danville, IL, are being acquired by Champaign Multimedia Group, which also includes the acquisition of related digital news platforms. The stations involved in this initial transaction are WSOY-AM/FM, WCZQ, WDZ-AM, WDZQ, and NowDecatur.com in Decatur, and WDAN-AM, WDNL, WRHK, and VermilionCountyFirst.com in Danville.
Neuhoff’s only remaining stations are in Bloomington and Springfield, IL.
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