Two Louisiana radio networks centered on farming news are set to join their efforts together. The Louisiana Farm Bureau Radio Network is set to merge with the Louisiana Radio Network’s agricultural news division, creating a combined force of 42 affiliates.
This merger will not be the first time that the two organizations have worked together, according to the LRN President. The fact that the two organizations already have a history of working together will likely prove a benefit for the merger’s success. Their pre-existing cooperation centered on sharing news and commodity prices.
According to the president of the Louisiana Farm Bureau, the merger provides unique opportunities for the new organization to reach out to the public and create public awareness of the benefits farmers provide to society. They hope the merger will enhance their ability to update citizens of Louisiana on the issues in farming that influence their community. In addition, they believe the merger will help the combined businesses grow by allowing them to do more unique reporting.
For those who are considering acquiring or merging one business with another, this story highlights many of the positive aspects of following through with the prospect. As can be seen in this case, mergers can allow both companies to better utilize the resources they have by giving them the additional support necessary to branch out and expand operations. Likewise, the company resulting from the radio network merger will be able to use its combined resources to bring content to audiences that may have been previously out of reach.
Mergers can sometimes present complicated issues. In this situation, the previous cooperation may have smoothed the way towards a merger. In mergers or acquisitions where the companies have no previous relationship, a variety of potential problems may arise that need to be approached to secure future success. An experienced advisor can help business owners understand the potential problems and benefits of a merger, while avoiding pitfalls along the way to successfully combining organizations.
Source: The Advocate, “Radio networks merge farm operations,” Aug. 13, 2012