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Station Sales Activity $1.85B in 2Q, Says Kagan

Broadcast station merger and acquisition activity was worth $1.85 billion in the second quarter, down from the $3.88 billion of assets that changed hands a year ago, according to SNL Kagan.

Kagan says that TV station sales accounted for $1.33 billion of the total in the just concluded quarter.

So far this year, broadcast M&A activity has been $5.44 billion, compared to $6.56 billion a year ago.

Kagan says that 613 stations have changed hands this year, including 164 TV stations. The average TV station price was $46.5 million, compared to $2.3 million for the average radio station.

The biggest deal, Kagan said, was 21st Century Fox’s swap of its stations in Boston and Memphis for Cox’s KTVU-TV in San Francisco.

(Photo via Andrew Magill's FlickrImage taken on March 18, 2014 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)