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Broadcast Transactions Show ‘Renewed Activity’

Broadcast Transactions Show 'Renewed Activity'

Radio and television transactions for the first half of the year “show promising increases in station sales and dollar values compared with all of 2005,” according to BIA Financial Network.
“Even when factoring in large group sales in both categories there are enough significant increases to indicate renewed activity, particularly in selected markets,” it stated.
Radio sales, the company stated, “have kept in-line with BIAfn predictions for steady but slow growth.” The company puts the value of radio transactions this year to date at $3.4 billion for the sale of 549 stations, compared with last year’s $899 million for the sale of 474 stations in the same period.
“The majority of the activity has come from big sales led by Cumulus; but 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 found.
Eighty-eight television stations sold with a transaction value of $15.7 billion, compared with $244 million for the sale of 21 stations for the same time period in 2005.
The company’s Mark Fratrik said the numbers revealed “slight improvement” in the media broadcasting landscape. “Even the tepid growth we’ve been reporting in radio transactions is showing blips on the screen as CBS prepares its large sale of radio stations 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.”