Saga Selling 2 TV Stations, Buying 12 Radio Stations in Return to 'Roots'
Saga Communications will sell two TV stations and buy 12 radio stations, it said in a news release Wednesday. “We made a very difficult decision that with all the changes taking place in the television industry that it was time…
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for us to return to our roots in radio," said CEO Edward Christian. Saga will sell KOAM Joplin, Missouri, and KAVU Victoria, Texas, to Morgan Murphy Media for $66.6 million. The broadcaster announced plans to “purchase the assets” from Apex Media for $23 million of South Carolina stations including WCKN(FM), WMXZ(FM), WXST(FM), WAVF(FM) and WSPO(AM), all serving Charleston, and of WVSC(FM), WLHH(FM) and WALI(FM), serving Hilton Head and Beaufort. Both deals are expected to close in September, Saga said. The company “intends to continue building its business in radio by continuing to identify and acquire middle market stations."