A Seeking Alpha writer acknowledges that newer sources of audio entertainment, particularly satellite and internet services, are getting almost all the attention. The upshot is that still-strong companies in the AM-FM space are getting less attention than they deserve, and are worthy of a close look by investors.
The author writes, “One form of media that has fallen out of favor is traditional Radio Broadcasting. I believe that the sector offers lush hunting grounds for value – as the companies are small, obscure and trade at attractive valuations. One major reason these companies are less popular is the advent of the internet. Despite the fact that internet and satellite radio alternatives have made significant inroads, there remains a significant source of business to be had.”