Saga Communications of Iceland Inc., an American company that owns 79% of Finn Mioill (Fine Media), an Icelandic radio company, has sold all shares to Northern Lights Communications, an Icelandic media and entertainment group. NLC now owns 10 of the 13 Icelandic radio stations.
According to a Saga spokesman, operations in the Icelandic radio market have been difficult. “The operations in Iceland are the only overseas business the company has undertaken … the distance has caused both logistical and managerial difficulties,” stated the spokesman.
Sharon Rae Pettigrew