Q2 Broadcast Station M&A Volume Nears $4.5 Billion
| RADIO ONLINE | Monday, October 9, 2017 |
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The volume of broadcast station mergers and acquisitions in the U.S. reached $4.47 billion in the second quarter of 2017, according to estimates from Kagan, a group within S&P Global Market Intelligence. The top radio deal was the $82.8 million sale of Hip-Hop KPWR-FM/Los Angeles from Emmis Communications to Meruelo Media. The transaction was the largest single radio station sale since 2012 and represents nearly 34% of the quarter's $245 million radio deal total.
The second-largest radio transaction was the radio portion of Sinclair's Tribune Media acquisition with an estimated value of $58.4 million for WGN-AM/Chicago and the programming of one additional FM station, followed by Educational Media Foundation's acquisition of three FM stations from Entercom for $57.5 million and the sale of four AM and 14 FM stations and two FM radio translators from Alpha Media to Dick Broadcasting Company for $19.5 million.
Saga Communications Inc. left the TV industry, selling its six remaining owned-and-operated stations and three LMAs to Morgan Murphy Media for $66.6 million. Concurrently, Saga expanded its radio business with the third-largest radio deal of the quarter, paying $23 million to Apex Media Corp. for seven FM stations, one AM and four translators.
