Nexstar Media Group announced
they have acquire all of Tribune Media’s assets. U.S. broadcast station
mergers and acquisitions (M&A) volume reached $4.31 billion in the
fourth quarter of 2018, as tracked by Kagan, a media research group
within S&P Global Market Intelligence.
the largest deal of the quarter and year, Nexstar Media Group announced
on Dec. 3 that it would acquire all of Tribune Media’s assets for
$46.50 per share. Kagan estimates the broadcast assets to be worth $3.51
second in deal value for the year was the $3.44 billion merger of Gray
Television Inc. and Raycom Media Inc. from the second quarter. The top
radio deal of the fourth quarter was the Hubbard Radio LLC’s $88.0
million purchase of Alpha Media LLC. It also ranked as the
second-largest radio deal of 2018, topped only by Bonneville
International Corp.’s $141.0 million purchase of eight radio stations
from Entercom Communications Corp. in August.
total, 2018 closed with an $8.87 billion deal volume for U.S. broadcast
station M&A, representing an increase of 8% compared to 2017.
Other leading TV station M&A in the fourth quarter:
On Oct. 29, Cordillera Communications announced the sale of all but one of its TV stations to E.W. Scripps Co. for $521.0 million. In addition to 15 main programming stations, the deal comes with eight low-power translators.
The only Cordillera station not sold to E. W. Scripps was NBC
affiliate KVOA in Tucson, Ariz., as Scripps already owns the ABC and CW
affiliates in that market. Instead, on Nov. 9, Cordillera filed the sale
of its last station to Quincy Media for $70.0 million.
Earlier, on Oct. 31 Quincy Media also agreed to buy WSIL-TV, the ABC
affiliate in the Paducah, Ky.-Cape Girardeau, Mo.-Harrisburg-Mt.
Vernon, Ill. market, coming with a full-power and a low-power
translator, for a total of $24.5 million.
On Dec. 4, following the Cordillera purchase, E.W. Scripps also
agreed to buy independent TV station WHDT in the West Palm Beach-Ft.
Pierce, Fla., market from Marksteiner AG Inc. for $25.0
only significant radio deal in the fourth quarter was Hubbard Radio’s
$88.0 million purchase of Alpha Media’s largest cluster by revenue,
comprising six stations in the West Palm Beach-Boca Raton, Fla. market.
The quarter featured eight other radio deals worth over one million
dollars each, the largest being Saga Communications Inc.’s purchase of
four FM stations in the Gainesville-Ocala, Fla., market from Ocala
Broadcasting Corporation LLC for $9.3 million.
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