Charleston, SC, July 12, 2012 --(PR.com
)-- Driven by several large deals, commercial radio station transactions in the first half of 2012 increased by 66% over the same period last year, with sales totaling $466.3 million, according to a study released today by www.radiovaluations.com. 2011’s midyear figure was $280.5 million.
Leading the way was a $180 million purchase by YMF Media LLC, whose owners include basketball legend Magic Johnson, from Inner City Broadcasting of stations in New York City; San Francisco; Columbia, SC; and Jackson, MS. Next were CBS Radio’s $50 million sale of five FM stations in West Palm Beach to Palm Beach Broadcasting, and NB Broadcasting’s $38.7 million acquisition from Nassau Broadcasting of 14 stations serving Allentown/Bethlehem, PA; Wilkes-Barre/Scranton, PA; and Trenton, NJ.
Other big-ticket sales included Inner City’s KBLX(FM) San Francisco to Entercom Communications for $25 million, Barnstable Broadcasting’s four Long Island stations to Connoisseur Media for $23 million, WFNX(FM) Boston from Phoenix Media to Clear Channel Communications at $14.5 million, while Journal Communications paid $11.8 million to Renda Broadcasting for KBEZ(FM)/KHTT(FM) Tulsa.
Also, two companies, Cumulus Media and Townsquare Media, were involved in a cash/swap deal involving 65 stations in nine states. Cumulus was involved in a giant acquisition during the second half of 2011 with its closing on Citadel Broadcasting’s 240 radio stations for $2.5 billion.
Sale figures were compiled from filings recorded at the Federal Communications Commission, whose approval is required for any radio or TV station sale.
About Radio Valuations, LLC
Radio Valuations.com provides estimates of radio station values for financial institutions and station owners. It is an affiliate of Guest Media Technology, LLC, Mount Pleasant (Charleston), SC, whose other services include radio station brokerage and FM signal-upgrade consultation. (843)606-2012, firstname.lastname@example.org.RadioValuations.Com.