Dave Schutz, President, Hoffman Schutz Media Capital, in attendance at the NAB Show in Las Vegas, told RBR-TVBR about the deal climate as the show got off the ground 4/16. He tells us cautious optimism is in the air as brokers, station buyers, and even some bankers–yes bankers–are in attendance: “Brokers report busy schedules for meeting through Tuesday. It seems that buyers and sellers are grudgingly accepting the new valuation metrics which are demonstrably lower than seven years ago. A couple of familiar names in banking are also in attendance, but are focusing on loans of $25 Million+.”
Schutz said he cannot give specifics on the banks as they “are still testing the waters.”
However, “One major bank did tell me, over dinner, that they have 6+ people here for the show and that next year they might even hold a reception, their first in many years.”
RBR-TVBR observation: We’ve been around the broadcasting business long enough to see the cycle more than once. Banks battle to get a piece of the business when the sector is hot, but pull back – way back – if loans start to go bad. But when there’s money to be made they always return – slowly at first, which is where we are now.
