BIA: 2001 Deals Saw 'Screeching Stop'

BIA: 2001 Deals Saw 'Screeching Stop'
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BIA: 2001 Deals Saw 'Screeching Stop'

BIAfn says pronounced slowdowns in the overall economy - especially in advertising - led to the "screeching stop" of radio station transaction activity in 2001.
After "several years of previously unimaginable numbers of stations sold for breathtaking prices, the number, and more significantly, the total value of radio stations that were sold in 2001 noticeably decreased," states BIA in an analysis of radio deals in 2001.
While the number of stations sold in 2001 dropped by 46%, the total value of those sales decreased by 85% to just below $4 million.
In large markets, the average price paid for a station dropped by nearly $10 million.
The report - "Radio Transactions 2001: Where Did All the Deals Go?" - indicates the slowdown was well underway prior to the events of Sept. 11.