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Radio Accounts for $102 Million in Q2 2018 Deal Volume
RADIO ONLINE | Monday, July 2, 2018 |
U.S. broadcast station mergers and acquisitions volume reached $5.11 billion in the second quarter of 2018, as tracked by Kagan, a media research group within S & P Global Market Intelligence. Even though 98% of Q2 volume is attributable to TV station sales, the quarter's largest radio group transaction was the $10.7 million sale of four AM stations, eight FM stations and five FM translators in two small Washington state markets from Ingstad Radio Washington to Stephens Family Limited Partnership.
The second-largest radio deal for the quarter was a swap, yielding an estimated total of $16.8 million. Educational Media Foundation (EMF) transferred three FM translators, worth an estimated $2.3 million, to Urban One Inc. EMF also paid an additional $12.2 million in cash for FM station WPZR in Detroit.
Aside from those few large deals, the deal market displayed a rather slow pace. Excluding the Sinclair TV spin-offs and Gray's deal for Raycom, the total deal volume would have been the lowest since the fourth quarter of 2016, amounting to just $185.8 million.
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