Station mergers and acquisitions volume in Q3 of 2019 were the lowest since Q4 of 2016 according to Kagan. Emmis took part in the largest radio deal.
The largest radio deal involved Emmis partnering with investment firm Standard General to start a new public company, Mediaco Holding, which will own and operate WBLS and WQHT. Standard General will pay $91.5 million in cash and a $5 million note receivable to Emmis, while Emmis will have a 23.7% minority stake in the new company.
The second-largest deal was Stephens Media Group’s acquisition of Mapleton Communications, which agreed to sell its 29 FM and eight AM stations, together with a number of boosters and translators, for $21.0 million.
$16.9 million more was added to the radio deal volume through the sale of 12 AM stations and seven FM translators from Salem Media Group to Starboard Media Foundation, the parent company of Immaculate Heart Media. The deal was announced in two parts, with four AM stations and three translators sold for $8.2 million in July, followed by eight AM stations and four translators for $8.7 million in August.
