BIAfn: 2006 Station Sales "Promising" So Far
July 20, 2006 at 4:36 PM (PT)
BIA FINANCIAL NETWORK's latest report on station sales indicates "promising increases" in station sales and dollar value for the first half of 2006. Radio station sales are "in-line with BIAfn predictions for steady but slow growth," according to BIAfn, with $3.4 billion in transactions for 549 stations (474 stations were sold in the first half of 2005 and 474 stations were sold all year in 2005 for a total of $899 million). "The purchases indicate that there is financing available for operators with good, established track records and for some who are either returning to the business or entering new markets and looking to make format changes," BIAfn reports.
"We’re encouraged to see slight improvement in the overall media broadcasting landscape," BIAfn VP MARK FRATRIK added. "Even the tepid growth we’ve been reporting in radio transactions is showing blips on the screen as CBS prepares its large sale and selected markets see renewed activity. Despite the slow activity we are seeing owners wanting to buy assets and taking advantage of prices lower than a couple of years ago."