Saga Buys Apex Charleston, Hilton Head Clusters, Sells TV Stations In Victoria, Joplin-Pittsburg

Buying And Selling

SAGA COMMUNICATIONS is buying radio stations and selling TV stations in separate deals.

In radio, SAGA is buying clusters in CHARLESTON, SC and HILTON HEAD ISLAND-BEAUFORT, SC from APEX MEDIA CORPORATION for $23 million.  The stations include Country WCKN (KICKIN' 92.5)/MONCKS CORNER-CHARLESTON; Top 40 WMXZ (MIX 96)/ISLE OF PALMS-CHARLESTON; Urban WMXZ-HD2-W257BQ (99.3 THE BOX); Urban AC WXST (STAR 99.7)/HOLLYWOOD-CHARLESTON; Adult Hits WAVF (101.7 CHUCK FM)/HANAHAN-CHARLESTON; Urban WSPO-A-W261DG (HEAVEN 1390)/CHARLESTON; Adult Hits WVSC (SC 103)/PORT ROYAL-HILTON HEAD; Classic Hits WLHH (104.9 THE SURF)/RIDGELAND-HILTON HEAD; Hot AC WALI (I93.7)/BURTON-HILTON HEAD; W256CB/BEAUFORT; and W293BZ/HILTON HEAD.

SAGA, for an aggregate $66.6 million is also selling CBS affiliate KOAM-TV/JOPLIN, MO and ABC affiliate KAVU-TV (ABC 25), CBS affiliate KAVU-TV2 (KXTS), NBC affiliate KMOL-LD-KAVU-DT3, UNIVISION affiliate KUNU-LD (UNIVISION VICTORIA), and TELEMUNDO affiliate KVTX-LP (TELEMUNDO 45), along with CROSSROADSTODAY.COM, to EVENING TELEGRAM CO. d/b/a MORGAN MURPHY MEDIA.  SAGA's programming rights to SURTSEY MEDIA FOX affiliate KVCT-TV (FOX 19) and FOX affiliate KFJX-TV (FOX 14)/PITTSBURG, KS-JOPLIN, MO will go to MORGAN MURPHY as well, and the licenses are being sold to subsidiaries of SAGAMOREHILL BROADCASTING, LLC.

SAGA President/CEO ED CHRISTIAN said, “We’ve had the great pleasure of owning KOAM in JOPLIN since 1994 and KAVU in VICTORIA since 1999. It has been a great experience for us to serve both communities with terrific television stations that focused heavily on the local markets. We made a very difficult decision that with all the changes taking place in the television industry that it was time for us to return to our roots in radio.”

CHRISTIAN added, “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.”

« see more Net News