BIA Advisory Services reports radio deal making remain at a slow pace so far in 2024. According to BIA, 216 radio station sales were reported between Jan. 1 and June 30, with a total value of $60.1 million. Let’s break down some key points:
Radio Deal Activity: Despite a slower pace compared to previous years, there were 216 radio station sales announced between January and June 2024, totaling $60.1 million.
- Neuhoff Media played a significant role, exiting the business and striking deals worth $11.6 million.
- Other notable sales included Norsan Media’s purchase of JVC Media’s Orlando stations and Kyle Bauer’s acquisition of seven stations from Rocking M Media.
Challenges and Opportunities: The financial pressure on publicly traded groups and a slowdown in growth have impacted interest and activity in the radio station transaction space. While many groups want to spin off less desirable properties, the lack of lenders and high interest costs hinder acquisitions. Policy changes by the Federal Communications Commission (FCC) or lower interest rates could improve the acquisition environment.
Radio vs. Television: Interestingly, radio station sales have been more active than TV station sales in 2024.Only eight TV stations were sold this year, totaling $13.7 million.
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