Premiere Radio Sells 5 Sports Program Networks

Premiere Radio Networks Inc., a Sherman Oaks-based producer and distributor of radio programs, said it has sold its five sports program networks to Major Networks Inc. for $2.7 million.

Premiere said it expected to post a gain on this sale of about $1 million in its first quarter earnings. The company also said it signed a three-year agreement with Major Networks to be its network sales representative for the five sports programs.