SNL Kagan: Radio Station Transactions Totaled $309.9 Million In Third Quarter 2016, Mostly From Beasley-Greater Media Deal
October 7, 2016 at 5:37 AM (PT)
SNL KAGAN's quarterly roundup of broadcast station mergers and acquisitions volume in the U.S. showed third quarter transactions valued at $309.9 million and full-year sales at $5.7 billion to date.
Radio had $293.1 million in third quarter deal volume, but 82% is from the BEASLEY deal to buy GREATER MEDIA for $239 million, a 6x multiple. The second largest deal in the quarter was the sale by PACIFIC LUTHERAN UNIVERSITY of noncommercial News-Talk-Jazz KPLU/TACOMA-SEATTLE (now KNKX) and its associated satellite and translator stations to a listeners' group, FRIENDS OF 88.5 FM. Translator volume made up 58% of all station sales (by number of stations sold) for a total of $9.7 million.
Television only showed $16.8 million in sales for the quarter due to the FCC blackout on TV deals while the incentive auction is in progress; the largest deal was CALKINS' redo of the sale of ABC affiliate WAAY-TV/HUNTSVILLE, AL to ALABAMA TV LLC, split off from an original three-station deal with RAYCOM. Second was NEXSTAR spinning off FOX affiliate KASA-TV/SANTA FE plus 31 translators to RAMAR COMMUNICATIONS for $2.5 million.