One of the most significant deals of the week involved the reclaiming of a Fort Pierce market FM by iHeart for no consideration. But there were two other deals valued above $1M during the week of 3/9-13, and mostly good news pouring in from the stock markets.
All the Action is on the Radio Side
In all, six radio deals were filed, including the iHeart Florida reel-in.
Action in Salisbury-Ocean City and Sioux Falls SD is what generated most of the value traded. The two deals accounted for $3,200,000 of the total trading value of $3,929,466.
None of the action took place in a top 50 market, and there were no sales at all on the television side.
In all, two AMs, seven FMs and three FM CPs were sold.
Here are the top deals for the week:
$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.
Most Stocks Did Pretty Well
With one glaring exception, it wasn’t a bad week at all for broadcast stocks.
The rough week belonged to religious radio specialist Salem Media Group, which was forced to announce a round of layoffs at its Q4 results conference. It’s stock plummeted 15.49%.
A few others were in the negative column, but no other suffered anything close to the Salem fall.
Gray Television led the winners and was the only double-digit gainer with 11.16% to the good. Entercom was on top of the heap on the radio side with a gain of 5.11%.
Here are results for the week of 3/9-13:
| RBR Radio Index | |||||
| Stock Market | 3/6/2015 | 3/13/2015 | |||
| Company | Symbol | Close | Close | Net Chg | Pct Chg |
| Beasley | BBGI | 5.2 | 5.21 | 0.010 | 0.19% |
| Cumulus | CMLS | 3.02 | 2.98 | -0.040 | -1.32% |
| Emmis | EMMS | 1.83 | 1.88 | 0.050 | 2.73% |
| Entercom | ETM | 11.55 | 12.14 | 0.590 | 5.11% |
| iHeart Media | IHRT | 4.34 | 4.25 | -0.090 | -2.07% |
| Radio One, Cl. D | ROIAK | 2.7 | 2.63 | -0.070 | -2.59% |
| Salem Comm. | SALM | 7.36 | 6.22 | -1.140 | -15.49% |
| Saga Commun. | SGA | 40 | 40.98 | 0.980 | 2.45% |
| SBS | SBSA | 3.93 | 4.0602 | 0.130 | 3.31% |
| TVBR TV Index | |||||
| Stock Market | 3/6/2015 | 3/13/2015 | |||
| Company | Symbol | Close | Close | Net Chg | Pct Chg |
| CBS | CBS | 60.585 | 60.93 | 0.345 | 0.57% |
| Entravision | EVC | 6.8 | 6.73 | -0.070 | -1.03% |
| Fox | FOXA | 34.495 | 34.02 | -0.475 | -1.38% |
| Gray | GTN | 12.63 | 14.04 | 1.410 | 11.16% |
| Media General | MEG | 15.19 | 16.02 | 0.830 | 5.46% |
| Nexstar | NXST | 56.42 | 56.82 | 0.400 | 0.71% |
| Sinclair | SBGI | 27.04 | 28.015 | 0.975 | 3.61% |
| Tribune Media | TRCO | 66.19 | 68.5 | 2.310 | 3.49% |
