Radio Deals Exceed $300 Million in Q1
That's according to the SNL Kagan Broadcast M&A Quarterly Tracker. It was only the third time in the last eight quarters that radio deals topped $300 million. The biggest was $131.0 million / 8.5x cash flow sale of New York's WBLS-FM/WLIB-AM from YMF to Emmis. The next biggest deal was the $74.0 million sale of ten stations from South Central to SummitMedia. Compared to the 2013 average of 7.0x, the average radio cash flow multiple rose by half a point in Q1 2014. By comparison there were 107 TV stations traded to radio's 202. The average TV station price in Q1 was $31.1 million, vs. just $1.6 million for radio. Total volume was $3.65 Billion.