Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Businessweek Archives

TV Stations: Easier To Sell Than Newspapers


The New York Times Co.?? sale of its broadcast TV stations suggests that sale multiples for broadcast tv stations??n this case, major-network affiliated TV stations primarily located in mid-sized markets??re holding up substantially better than those for major market newspapers. (I am indebted to the figuring of Prudential analyst Steven barlow here, who issed a report last night pegging the sale multiple at 13.3 times EBITDA.)

Is this good news for Tribune and its upcoming sale, especially in light of McClatchy?? recent, shockingly cheap sale of the Minneapolis Star Tribune?

Not really. Tribune?? 23 local stations are dominated by big-market properties, and a lot of them are affiliated with the still-nascent CW network??n affiliation likely not worth as much as CBS/NBC/ABC et al are. Also, Tribue remains primarily a publishign company. Its total revenue in 23005: $5.6 billion. Its newspaper revenue: $4.0 billion.

The next round of bids are due for Tribune on January 17.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus