The deal involves five banks, including Bank of America and J.P. Morgan Chase, and will allow Michigan-based Saga Communications a $120 million line of credit. The loan will break down into a $60 million term loan and a $60 million revolving loan. Saga's President & CEO Ed Christian says, "I believe that that closing on this facility is great for our stockholders, as it provides us a solid commercial banking facility upon which to build Saga's future." Saga Communications operates 61 FM and 30 AM radio stations, 3 state radio networks, 2 farm radio networks, 5 television stations and 4 low-power television stations in 26 markets. You can track Saga stock (SGA) here.