SNL Kagan: Radio Station Deals Totaled $47.8 Million In Second Quarter 2016, Lowest In 34 Years
July 1, 2016 at 1:32 PM (PT)
U.S. broadcast station transaction volume in second quarter 2016, $728.9 million, was mostly due to television deals related to the NEXSTAR purchase of the MEDIA GENERAL stations and spinoffs from those companies in several markets, but radio station sales hit its lowest quarterly point in 34 years, since the first quarter of 1982, according to S&P GLOBAL MARKET INTELLIGENCE's SNL KAGAN.
While TV station sales hit $681.2 million for the quarter, 80% of which were related to the NEXSTAR-MEDIA GENERAL spinoffs, radio deals amounted to only $47.8 million, lowest since first quarter 1982. The biggest deal of the quarter was APEX MEDIA CORP.'s sale of four stations in FORT WALTON BEACH, FL to COMMUNITY BROADCASTERS LLC for $5.9 million, which SNL KAGAN estimates represents a 7.5x forward seller’s multiple. There hadn't been a quarter without at least one deal exceeding $10 million since second quarter 2010.
59% of the stations sold in the quarter were FM translators; in second quarter, 186 FM translators have been sold for $9.1 million.