Research from Kagan has found that the US broadcast industry ended 2018 on a merger and acquisition high with M&A volume reaching $4.31 billion in the fourth quarter of 2018.
In total, 2018 closed with an $8.87 billion deal volume for US broadcast station M&A representing an increase of 8% compared with 2017. The analyst noted that in the largest deal of the quarter and year, Nexstar Media Group announced on 3 December 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 billion. Ranking second in deal value for the year was the $3.44 billion merger of Gray Television and Raycom Media from the second quarter.
Other leading TV station M&A in the fourth quarter noted by Kagan included October’s sale by Cordillera Communications 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. On 9 November, Cordillera filed the sale of its last station to Quincy Media for $70.0 million.
Earlier, on 31 October, 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 4 December, 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 million.
Other leading TV station M&A in the fourth quarter noted by Kagan included October’s sale by Cordillera Communications 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. On 9 November, Cordillera filed the sale of its last station to Quincy Media for $70.0 million.
Earlier, on 31 October, 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 4 December, 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 million.
