Saga Communications has agreed to purchase VerStandig Broadcasting’s five stations and one translator in Harrisonburg, VA market for an undisclosed amount.
The five stations are AC “Fresh 96.1” WJDV Broadway, CHR “Q101” 100.7 WQPO Harrisonburg, Rock “105.1 Bob” WTGD Bridgewater, News/Talk 550 WSVA/92.1 W221CF Harrisonburg, and Sports “ESPN 1360” WHBG Harrisonburg.
VerStandig retains its four station in the Hagerstown, MD market. For Saga the Harrisonburg cluster becomes its third in Virginia joining Norfolk and adjacent Charlottesville holdings.
Saga Communications, Inc. (NYSE MKT: SGA) announced today that it has entered into an agreement to purchase the assets of WSVA-AM, WHBG-AM, WQPO-FM, WJDV-FM, and WTGD-FM from the VerStandig family. All the stations serve the Harrisonburg, VA radio market. Saga expects to close the transaction, subject to the approval of the Federal Communications Commission, in June 2015.
Edward K. Christian, President and Chief Executive Officer of Saga Communications, said, “These stations fit very well into our model of owning heritage radio stations that are very tightly focused on serving their local communities. We look forward to working with the existing staff to continue the great heritage that these stations have established. Saga intends to continue building its business in both the radio and television markets by identifying and acquiring middle market stations.”