That’s according to CEO Ed Christian who told investors and analysts on Tuesday that he’s identified two opportunities he’s working on. Saga operates in mid-sized markets and that’s where their focus will stay. Christian said, “We operate below the radar and above the weather. We have ball control in those markets.” Christian also said he could get any deals done from Saga’s cash reserves, which are at about $30 million right now. Here’s what else he had to say about the industry.
Christian said after the radio industry going through a deal dry-spell, things are changing. He mentioned the Commission’s approval of foreign ownership and believes there could be a lot of foreign money infused into the radio industry.
And Christian says he hears there is serious talk about removing the markets cap which would lead to more consolidation. “I do see more consolidation coming, which means more smaller companies getting out. There will also be some fallout with companies that got ahead of themselves with debt and there will be some opportunities there.” Christian may be speculating that radio’s two big companies, iHeartmedia and Cumulus, may have to restructure, which might make some of their stations available for purchase.
