The Stephens/Mapleton Takeover

Kagan is estimating that $771 million of radio deals were done in the second quarter.

They are guessing at multiples like the 7 times forward cash flow for Cox FMs and 6 times for AMs, a generous estimate at that.

And there’s the Meruelo steal of Cumulus’ KLOS for only $43 million in LA and other insulting offers taken by opportunists who believe now is the time to start buying radio again.

The big guys are on the ropes but a troubling trend for smaller market owners is also emerging.

Take the Stephens takeover of Mapleton.

When you look inside the deal, it presents a scary scenario for a segment of radio markets that are thought to be bulletproof.

Read the full article now