Search This Blog

Friday, October 6, 2017

An Article Worth Sharing - Entercom-CBS

By Joe Nelson

Sometimes I find articles worth sharing, this is one of those. This from Tom Taylor and his NOW Newsletter:



Kagan counts $123 million in third-quarter station sales – but Entercom controls a bunch more.

In fact, almost half the Kagan-counted $123 million of radio station sales in July-August-September came in the final days of September, from Entercom announcing single-station sales in L.A., San Diego and Wilkes-Barre/Scranton to “K-Love” parent Educational Media Foundation. That totaled $57.75 million, which Kagan pencils out to “$3.75 per pop.” (Meaning $3.75 per person under the signals of those stations.) But we know Entercom’s David Field still has about a dozen or more stations to divest from his CBS Radio hookup, including multiple signals in San Francisco, Seattle and Sacramento, plus the really tough nut, Boston. The mystery is what the Justice Department will insist on. Back to the Kagan report – Q3’s second-biggest announced radio deal was the $19.5 million sale of four AMs, 14 FMs and two translators in the Southeast from Alpha Media to Dick Broadcasting. After that, Kagan says “there were ten other radio transactions between $1 million and $7 million, with all other radio deals in the quarter worth less than $1 million.” So without Entercom-EMF and Alpha-Dick Broadcasting, this would’ve been a very sluggish quarter by dollar volume. But dealmakers know the Entercom-CBS Radio spins and/or swaps are somewhere in the blender. (San Francisco-based MVP is working on those.) And Alpha’s Larry Wilson might like to keep raising cash to pay down debt from his 2015 acquisition of Digity. Plus – who knows what surprises are out there? Dealmakers tell this NOW Newsletter they were busy with meetings at last month’s Austin Radio Show.

No comments: