National Association of Media Brokers President Glenn Serafin explains the recent past as a prelude to looking forward at the 2015 station trading market in an exclusive essay appearing in a special RBR+TVBR print edition available at the NAB Show in Las Vegas.
To find out what Serafin had to say, all that attendees of the NAB Show in Las Vegas have to do is pick up a copy of RBR+TVBR, available free at The NAB Show. Look for our specially marked bins. And of course, loyal paid subscribers will get their own PDF version delivered straight to their inbox.
Here’s a sneak preview into some of his thoughts.
Radio trading now v. the late 90s: “The radio stations sold last year represent about 6% of the 15,432 full power AM and FM radio stations operating in the USA. To draw an unfair comparison, when deals were robust after Telecom in 1996, about 12% of radio stations changed hands annually.”
On one of the driving factors influencing TV multiples: “Since many (almost all) of the buyers already are TV licensees, many already in-market, they bring economy of scale and programming buying power that drive down their costs.”