Saga Communications has entered into an agreement to purchase four FMs, one AM, and an FM translator from Neuhoff Media as the company continues its exit from radio after 70 years. Neuhoff announced it would divest all of its stations earlier this month.
With the sale, Saga would acquire WKOA, WKHY, WASK, WXXB, WASK-AM, and W269DJ in the Greater Lafayette, IN market, as well as each signal’s attached digital assets.
Saga CEO Chris Forgy 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.”
Neuhoff Family Limited Partnership Mike Hulvey added, “Saga Communications will continue the stewardship of these important stations for the Lafayette market. The Neuhoff Family is proud of the service provided to the community by our team and we are excited for what the future holds under their ownership.”
Kalil & Co., Inc. acted as the exclusive broker for this transaction.
Neuhoff started its transition out of radio with the sale of its clusters in Decatur and Danville, IL, to 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. Plans for those stations have yet to be disclosed.
