Broadcast Deals Reached $5.1 Billion in Q1, S&P Global Says
U.S. station deal volume reached $5.1 billion in Q1, said S&P Global Market Intelligence: $236.8 million in radio and $4.86 billion in TV. “This is the largest quarterly deal volume since second quarter 2007." The largest TV deals included Nexstar’s…
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planned $1.32 billion divestitures to E.W. Scripps and Tegna and equity fund Apollo Global Management buying stations from Cox and Northwest Broadcasting at $3.1 billion and $384 million respectively. Cumulus Media's $103 million sale of six radio stations to Educational Media Foundation accounted for much of the radio volume.