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.