Minnesota Public Radio to Spin Off Commercial Broadcast Assets for $3.25 Million

Minnesota Public Radio to Spin Off Commercial Broadcast Assets for $3.25 Million
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Saga Communications President/CEO Ed Christian is paying $3.25 million for the assets of the Minnesota News Network, the Minnesota Farm Network and other related operations from the Greenspring Company, the for-profit arm of Minnesota Public Radio. Saga expects the transaction to close during the first quarter of this year.
Saga already owns the Illinois Radio Network, the Michigan Radio Network and the Michigan Farm Radio Network. "Saga intends to continue building its radio, television and network business with acquisitions such as this," said Christian.
Saga owns or operates broadcast properties in 24 markets, including 49 FM and 27 AM radio stations, 2 state radio networks, 1 farm radio network, 5 television stations and 3 low power television stations.

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