Premiere Radio Networks Inc. bought nine syndicated programs from Olympia Networks of Missouri Inc., a move that nearly doubles the growing Sherman Oaks radio distributor output.
The programming includes five sports shows — hosted by Bob Costas, John Madden and Pat O’Brien.
Additionally, Premiere picked up three comedy shows and a country music program. Terms of the deal were not disclosed, though Premiere will pay cash for the programs, so shares will not be diluted.
Premiere, which owns 13 other programs and a Denver radio station, expects the new programs to double its revenue to more than $ 20 million in 1994, from the roughly $ 11 million it expects to post in 1993. The company expects earnings, too, to improve to $ 1.6 million, or 55 cents a share, next year, up from the roughly $ 330,000 (9 cents) loss it expects to report this year.