As Nehoff Media continues its exit from the radio business, it has sold its entire holdings in the Lafayette, IN market to Saga Communications.
Included in the purchase are 93.5 KHY (rock), 98.7 WASK (classic hits), B102.9 (CHR), K105 (country), and 101.7 The Hammer (sports).
“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 stations’ long-standing heritage of serving the Greater Lafayette region,” Saga Communications President and CEO Chris Forgy said. “Saga intends to continue building its business in radio by identifying and acquiring middle market stations in dynamic communities.”
The purchase of the Lafayette cluster marks Saga’s first foray into the Hoosier State. The company currently owns stations in Arkansas, Illinois, Iowa, Maine, Massachusetts, New Hampshire, New York, North Carolina, Ohio, South Carolina, South Dakota, Tennessee, Vermont, Virginia, Washington, and Wisconsin.
Earlier this month, Neuhoff Media sold its clusters in Danville and Decatur, Illinois. Currently, the company still owns stations in Bloomington and Springfield, Illinois, but plans to unload them to a buyer in the coming weeks and months.
Nuehoff Media began operations in 1955 after its founding by Roger Neuhoff. The sale of its stations comes after Mike Hulvey, the company’s CEO, announced his intention to depart on April 1st to become the CEO of the Radio Advertising Bureau.
