Le Lézard
Classified in: Science and technology
Subject: SVY

U.S. broadcast station deal volume reaches $190 million in Q3 2017



MONTEREY, Calif., Oct. 5, 2017 /PRNewswire/ -- U.S. broadcast station mergers and acquisitions volume reached $189.6 million in the third quarter of 2017, according to estimates from Kagan, a media research group within S&P Global Market Intelligence. This is the lowest quarterly deal volume of the year, but the previous two quarters were skewed by two billion-dollar deals. The volume of Q3 2017 is still higher than Q4 2016 volume ($116.1 million) and that of seven other quarters since 2008.

Radio Deal volume since 2006

$123.0 million came from radio deals, with almost 50% attributable to the sector's top deal. In the absence of bigger commercial deals, the largest radio deal of the quarter was announced on September 26 by non-commercial Educational Media Foundation, which agreed to pay $57.75 million ($3.75 per pop) for three FM stations that Entercom Communications had to spin off after its merger with CBS Radio.

Q3's second-largest radio deal was the $19.5 million sale of four AM and fourteen FM radio stations and two FM radio translators from Alpha Media LLC to Dick Broadcasting Company Inc. The stations are located in four small markets in Georgia and the Carolinas.

There were ten other radio transactions between $1.0 million and $7.0 million, with all other radio deals in Q3 worth less than $1.0 million.

In the top TV deal of the quarter, announced on July 21, OTA Broadcasting (PSP) LLC sold its two stations in the Palm Springs, California, market to Entravision Communications Corporation for $21.0 million. We estimate a 7.5x forward seller's multiple, while Entravision reported a buyer's multiple of less than 6.5x.

EVINE Live Inc. sold its TV station WWDP in the Boston market to WRNN-TV Associates Limited Partnership for $10.0 million. EVINE Live also entered into a $3.5 million channel-sharing agreement with WMFP, allowing NRJ TV to operate that station on one-third of WWDP's spectrum.

London Broadcasting sold KTXD in Dallas to Cunningham Broadcasting Corporation, the local marketing agreement partner of Sinclair Broadcast Group Inc. for $9.5 million and Southern California License LLC sold KAZA in the Los Angeles market to Weigel Broadcasting Co. for $9.0 million. KAZA, which in April sold its spectrum at the Spectrum Incentive Auction, entered a channel-sharing agreement with KHTV-CD, owned by Venture Technologies Group LLC.

All other TV deals in Q3 registered $6 million each or less, bringing the total quarterly TV deal volume to $66.6 million.

About S&P Global Market Intelligence

At S&P Global Market Intelligence, we know that not all information is important?some of it is vital. Accurate, deep and insightful. We integrate financial and industry data, research and news into tools that help track performance, generate alpha, identify investment ideas, understand competitive and industry dynamics, perform valuations and assess credit risk. Investment professionals, government agencies, corporations and universities globally can gain the intelligence essential to making business and financial decisions with conviction.

S&P Global Market Intelligence a division of S&P Global (NYSE: SPGI), provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spglobal.com/marketintelligence.


TV deal volume since 2006

SOURCE S&P Global Market Intelligence


These press releases may also interest you

25 sep 2018
NetCents Technology Inc. ("NetCents" or the "Company") is pleased to announce the closing of its previously announced (see news release dated September 12, 2018) non-brokered private placement (the "Offering").  Due to demand, the Offering was...

25 sep 2018
Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), a platform providing artificial intelligence and internet of things ("AIoT") business solutions in China, is pleased to announce its subsidiary,...

25 sep 2018
Sungrow, the global leading inverter solution supplier for renewables, announced that the company's C&I (Commercial and Industrial) energy storage system ST548KWH-250 was certified with UL9540 by TUV Rheinland on September 13th. This is the first...

25 sep 2018
Report SynopsisPersistence Market Research (PMR) offers an 8-year forecast for the global ZINK printing market between 2018 and 2026.In terms of value, the market is expected to register a single-digit CAGR during forecast period.Download the full...

25 sep 2018
Huobi Group, the world's biggest blockchain company, has announced that it has reopened eligibility for its Huobi Global Elites program. The program is intended to build strategic partnerships with prominent blockchain influencers, wealth management...

25 sep 2018
Report SynopsisPersistence Market Research (PMR) offers a 08-year forecast for the data management platforms market between 2018 and 2026.In terms of value, the market is expected to register single-digit CAGR during forecast period.Download the full...




News published on 5 october 2017 at 17:09 and distributed by: