Learfield Buys Minnesota, Michigan News Networks And AG Radio Networks From Saga, Also Buys Strategic Marketing Affiliates
December 4, 2014 at 12:24 PM (PT)
LEARFIELD COMMUNICATIONS has acquired the MINNESOTA and MICHIGAN NEWS NETWORKS and AG RADIO NETWORKS from SAGA COMMUNICATIONS for an undisclosed price. Program schedules and staff remain the same.
LEARFIELD Pres./CEO GREG BROWN said, "We are very pleased to now have these important news and agriculture information services as members of our stable of radio networks. 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."
SAGA Pres./CEO ED CHRISTIAN added, "LEARFIELD is very well respected in the radio business and has a proven track record in network operation. 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."
In addition, LEARFIELD SPORTS has acquired STRATEGIC MARKETING AFFILIATES (SMA), an INDIANAPOLIS-based merchandising and licensing company, which will be combined with LEARFIELD's LICENSED RESOURCE GROUP (LRG). LRG CEO LEWIS HARDY will serve as Chairman of the combined operation, and SMA's BOB BERNARD will serve as CEO, both reporting to LEARFIELD COO MARC JENKINS.
BROWN said, “BOB BERNARD founded SMA in 1997 and the reputation of his company reflects his own personal reputation. He is one of the most respected individuals in college athletics and so is his company. He has been a great partner of ours for years, and we are thrilled his company is now a part of our organization.”
BERNARD said, “We have a great team of people, and we are thrilled to now be joining LEARFIELD. We’ve worked hard over the years to build valuable relationships in the college marketplace, and as a long-time partner of LEARFIELD, I already know the team well and have great confidence in the company’s ability to help us grow in our capabilities in the coming years. LEARFIELD has a stellar reputation, and we are excited about this new chapter of growth for SMA.”