MONTEREY, Calif., Jan. 3, 2020 /PRNewswire/ -- U.S. broadcast
station mergers and acquisitions (M&A) volume reached a total
of $900.0 million in the fourth
quarter of 2019 as tracked by Kagan, a media research group within
S&P Global Market Intelligence. The TV market registered two
transactions above the $100 million
mark and a number of mid-sized deals. The radio market delivered
its lowest quarterly deal volume since the second quarter of
2016.
The largest TV deal of the quarter was announced in November.
Fox Corp. agreed to pay $352 million
to Nexstar Media Group Inc. for three stations in in Seattle and Milwaukee. Nexstar acquired the stations as
part of its Tribune Media deal, which closed in September. In
return, Nexstar will receive two Fox-owned stations in the
Charlotte, N.C., market for
$45 million.
The second-largest TV deal took place in October, when Allen
Media Broadcasting, the broadcasting division of Entertainment
Studios Inc., announced an agreement with USA Television Holdings LLC and USA Television MidAmerica Holdings LLC to
acquire 11 TV stations in nine small markets for $290.0 million.
In the fourth quarter's third-largest deal, in December, NRJ
Holdings LLC announced the sale of seven DTV stations and one
Class-A station to RNN National LLC for $81.2 million.
The radio market registered three deals between $3 million and $5
million. On Dec. 30, TEGNA
Inc. announced the sale of AM/FM combo KFMB in San Diego to Local Media San Diego Acquisition
LLC for $5.0 million.
McKibbin Media Group Inc. announced the purchase of three
stations in Michigan's
Lansing-East Lansing market from Jackson Radio Works
Inc. for $3.8 million. Horne
Broadcasting LLC is buying five stations and one translator in the
Fayetteville, Ark., market from
Carroll County Broadcasting Inc. and Hog Radio Inc. for
$3.4 million.
The year closed with a total deal volume of $7.71 billion. Radio registered a deal volume of
$1.26 billion, 54% more than in 2018,
and TV announcements totaled $6.52
billion, 17% less than in 2018.
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SOURCE S&P Global Market Intelligence