Premiere Radio Acquires 9 Program Networks

Premiere Radio Networks Inc., a Sherman Oaks producer and distributor of radio programming, said it acquired nine radio program networks from Olympia Networks of Missouri Inc. for an undisclosed amount of cash.

The programming acquired from Olympia includes “Coast to Coast With Bob Costas,” “John Madden’s Sports Calendar” and two shows featuring sports commentator Pat O’Brien.

Premiere said the deal increases the number of its station affiliates from 1,500 to more than 2,500.

The company added that it expects to report a profit in 1994, after a loss for 1993. It expects revenue to grow from $11 million to $20 million next year.