Advertisement |
U.S. Radio Deal Market Adds $236.8 Million in First Quarter
RADIO ONLINE | Monday, May 6, 2019 |
U.S. broadcast station mergers and acquisitions volume reached $5.1 billion in the first quarter of 2019 as tracked by Kagan, a media research group within S & P Global Market Intelligence. This is the largest quarterly deal volume since second quarter 2007. However, the radio deal market only contributed $236.8 million deal volume, and more than half of it was in one way or another connected to Cumulus Media.
In the top radio deal of the year, Cumulus sold six radio stations to Educational Media Foundation Inc. (EMF) for $103 million. This is the highest price to date that EMF has appeared to pay for a group of stations.
Cumulus also swapped one station in the New York market and two stations in the Massachusetts market for three Entercom Communications Corp. stations in Indianapolis. At an average 6.7x multiple, Kagan estimates each side of the swap being worth $9.50 million.
Advertisement |
Latest Radio Stories
NAB Inks Extension with Curtis LeGeyt Through 2029 |
Audacy Launches Audacy Sports Ahead of NFL Draft |
Max Media of Hampton Roads Elevates Jay West to OM |
Advertisement |
iHeartMedia, Deep Blue Launch Women's Sports Audio Network |
Broadcast VOICES Act Introduced in U.S. House, Senate |
Jesse Kelly Renews Long-Term Deal with Premiere Networks |