March Thaw Comes to the Station Trading Market

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DealTruth be told, it would only take one modestly robust group transaction to double the amount of money spent on broadcast facilities in the first quarter of 2015, so results still are nothing to write home about. But March trading more than doubled that of January and February combined.


Deal of the month once again goes to Alpha Media. IN fact, it gets deal of the year to date with its $23M acquisition of a quartet of FMs in Lubock TX.

The top TV deal and #2 deal overall for the month was Gray Television’s acquisition of a full- and low-power TV combo in Twin Falls ID for $17.5M.

In terms of number of stations sold, March was the slowest, with only 64 sticks in the hopper. FMs were the hottest commodity with 25 sold.

Here’s a look at how station trading went in terms of sticks on a weekly basis:

March 2015 AM FM FM CP LPFM LPF C TV LPTV LPT-CP Total
3-6 3 5 3 0 0 0 3 2 16
9-13 2 6 3 0 0 0 0 0 11
16-20 3 4 4 1 0 1 2 1 16
23-27 5 8 0 1 0 0 0 0 14
30-31 1 2 0 0 1 0 3 0 7
Total 14 25 10 2 1 1 8 3 64
Source: RBR-TVBR, FCC

And here’s how it broke down in terms of broadcast service and market size:

March 2015 1-50 51-100 101-smlr Out Total
AM 4 3 4 3 14
FM 2 0 17 6 25
FM CP 1 1 1 7 10
LPFM 0 0 0 2 2
LPFM CP 0 0 0 1 1
Rad total 7 4 22 19 52
TV 0 0 1 0 1
LPTV 5 0 2 1 8
LPTV CP 0 0 3 0 3
TV total 5 0 6 1 12
Total 12 4 28 20 64
Source: FCC, RBR-TVBR

The last two full weeks, the 16th through the 20th and the 23rd through the 27th ended in a dead heat in terms of value of traded, with the former winning by a nose.

Twice as much was spent on radio stations as was spent on television stations:

March 2015 Radio TV Total
3-6 $4,484,860 $1,862,500 $6,347,360
9-13 $3,929,466 $0 $3,929,466
16-20 $7,730,000 $18,600,500 $26,330,000
23-27 $25,881,000 $0 $25,881,000
30-31 $587,500 $460,000 $1,047,500
Total $42,612,826 $20,923,000 $63,535,826
Source: RBR-TVBR, FCC

Here’s how it looked in terms of deal type:

March 2015 Deals Stns Value Pnote
Radio 1 mkt 29 39 $39,912,926 $1,859,553
Radio multi-mkt 1 5 $2,700,000 $0
Radio no value 7 8 $0 $0
Radio total 37 52 $42,612,826 $1,859,553
TV 1 mkt 10 12 $20,923,000 $0
TV total 10 12 $20,923,000 $0
Total 47 64 $63,535,826 $1,859,553
Source: RBR-TVBR, FCC

And finally, here are the top deals for the month.
$23,000,000: KBTE-FM, KLLL-FM, KMMX-FM & KONE-FM Lubbock TX from Wilks Broadcast LLC to Alpha Media LLC. At the date is was filed with the FCC this was the largest deal in terms of value filed this year and remains so as of this writing. Broker: Bergner & Co. (seller)
$17,500,000: KMVT-TV & KSVT-LD Twin Falls ID from Neuhoff Corporation to Gray Television. CBS and Fox affiliates, respectively.
$3,200,000: KXMG-FM New Orleans LA (Jean Lafitte LA) from Sunburst Media LLC to Educational Media Foundation, which will take the station non-commercial. Holds CP to increase coverage of greater New Orleans.
$2,700,000: KZPO-FM Visalia-Tulare CA (Lindsay CA) and four FM CPs from five different sellers to Big Radio Pro Inc. All of the stations serve parts of the same general portion of inland California.
$2,260,000: KADD-FM Logandale NV (Las Vegas NV) from M&M Broadcasting LLC to Golden City Broadcast LLC. Exercise of 11/11/11 purchase option.
$1,700,000: WJKI-FM, WKDB-FM, WXSH-FM & WZEB-FM Salisbury-Ocean City MD from Great Scott Broadcasting to The Voice Radio LLC. Broker: Kalil & Co. (seller)
$1,500,000: KZOY-AM Sioux Falls SD from Cup O’ Dirt to Badlands Airtime LLC. Much of the value likely attributed to inclusion of 92.1 MHz K221FO Sioux Falls, which provides night service lacking from the daytime only AM.
$1,335,000: KAWL-AM/KTMX-FM York NE (near Lincoln NE) from MWB Broadcasting LLC to Nebraska Rural Radio Association. Broker: Chapin Enterprises (seller).
$1,300,000: WQVC-CA Greensburg PA (Pittsburgh) from Abacus Television to LocusPoint Networks LLC. Station has great potential turn-in value in the incentive auction. Broker: Patrick Communications (buyer)
$1,100,000: W21CK-D Charlotte NC from Three Angels Broadcasting Network to OTA Broadcasting LLC. Class A station with great incentive auction potential. Brokers: Media Venture Partners (buyer), M.C. Alcamo & Co. (seller)
$712,000: KDYL-AM Salt Lake City UT from Holiday Broadcasting Company to Mountainview Broadcast LLC. TBA since January 2013. Broker: Kozacko Media Services (seller)
$700,000: WKNZ-FM Salisbury-Ocean City MD (Harrington DE) from Eagle’s Nest Fellowship Church to The Bridge of Hope. Noncommercial station, more of a Delaware state station, but does provide coverage of part of the Salisbury-O.C. market.
$700,000: KPNG-FM CP Chandler AZ (Phoenix) from Arizona Community Media Foundation to East Valley Institute of Technology District #401. Noncom station, deal is entirely payable pursuant to promissory note.
$620,000: KSID AM-FM Sidney NE from KSID Radio Inc. to Dead-Short Broadcasting LLC. Estate sale to one of the four heirs.
$500,000: WVND-LD Athens GA from DTV Innovators LLC to Tri-State Christian TV Inc. The station holds a CP to move to Atlanta.
$500,000: WLFA-FM Asheville NC from Asheville Educational Association to Radio Training Network. Noncom deal.