Premiere Radio Buys Music Library Firm

Premiere Radio Networks Inc., a Sherman Oaks-based supplier of syndicated radio programming, has acquired a music library production and distribution firm.

Premiere said it paid $2.75 million in cash for Philadelphia-based Broadcast Results Group Inc., which distributes its 1,500 libraries and jingles to more than 1,500 radio stations in exchange for commercial air time.

Premiere also agreed to acquire three separate production music libraries from Andrew Mark, Broadcast Results' chief executive.

Broadcast Results will operate as a separate division of Premiere, headed by Mark.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
53°