{"id":6549,"date":"2015-10-01T00:00:00","date_gmt":"2015-10-01T00:00:00","guid":{"rendered":"http:\/\/worldscreen.com\/tvusa\/2015\/10\/01\/u-s-broadcast-deal-volume-up-in-q3\/"},"modified":"2015-10-01T00:00:00","modified_gmt":"2015-10-01T00:00:00","slug":"u-s-broadcast-deal-volume-up-in-q3","status":"publish","type":"post","link":"https:\/\/worldscreen.com\/tvusa\/u-s-broadcast-deal-volume-up-in-q3\/","title":{"rendered":"U.S. Broadcast Deal Volume Up in Q3"},"content":{"rendered":"<p>\n\tMONTEREY: According to SNL Kagan, broadcast station M&amp;A volume in the U.S. reached $3.04 billion in the third quarter, which saw the deal announcement of&nbsp;Media General&#039;s proposed acquisition of&nbsp;Meredith Corp.<\/p>\n<p>\n\tBetween Q1 2013 and Q3 2014,&nbsp;SNL Kagan registered seven consecutive quarters with deal volumes above $1 billion, driven by large TV-consolidation deals. Starting in Q4 2014, deal activity slowed dramatically. Between October 2014 and August 2015, the firm did not register a single deal above $100 million.<\/p>\n<p>\n\tThe quarter&#039;s top deal announcement, by far, was Media General&#039;s $3.10 billion possible acquisition of Meredith Corp. SNL Kagan values the 17 TV stations in 13 markets at $1.81 billion, which would make the deal the TV sector&#039;s largest since Media General&#039;s purchase of LIN Media in March 2014. This transaction, however, might not take place if Media General&#039;s shareholders agree to a bid by Nexstar Broadcasting, announced on September 28, to buy all of Media General for $4.1 billion. Nexstar&#039;s offer is not included in the total deal volume numbers.<\/p>\n<p>\n\tGray Television extended its small-market foothold in Q3, paying $100 million for Gazette Company&#039;s only TV station in Cedar Rapids, Iowa, and $442.5 million for Schurz Communications Inc. At 8.5-times forward broadcast cash flow, SNL Kagan allocated a deal value of $420.5 million to Schurz&#039;s 15 TV stations and two local marketing agreements in seven markets.<\/p>\n<p>\n\tAlso notching up a deal valued at more than $100 million was Raycom Media Inc., which paid $160 million for Drewry Communications Group&#039;s seven TV stations (including one local marketing agreement). Gray&#039;s purchase of Schurz and Raycom&#039;s acquisition of Drewry were both primarily TV deals, but the transactions also came with a number of radio stations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MONTEREY: According to SNL Kagan, broadcast station M&amp;A volume in the U.S. reached $3.04 billion in the third quarter, which saw the deal announcement of&nbsp;Media General&#039;s proposed acquisition of&nbsp;Meredith Corp. Between Q1 2013 and Q3 2014,&nbsp;SNL Kagan registered seven consecutive quarters with deal volumes above $1 billion, driven by large TV-consolidation deals. Starting in Q4 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-6549","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. Broadcast Deal Volume Up in Q3<\/title>\n<meta name=\"description\" content=\"U.S. Broadcast Deal Volume Up in Q3 . MONTEREY, October 1: According to SNL Kagan, broadcast station M&amp;A volume in the U.S. reached $3.04 billion in the third quarter, which saw the deal announcement of Media General&#039;s proposed acquisition of Meredith Corp.. 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