Radio Deal Market Picks Up As Second Half Gets Underway. | Story

The radio deal market picked up momentum as the second half of 2026 got underway, with July producing nearly $30 million in station sales and pushing year-to-date transaction value above $140 million.

BIA Advisory Services says 26 radio stations were sold during July for a combined $29.48 million. That was a sharp increase from June, when 19 stations changed hands for $11.5 million, making July one of the stronger months for radio dealmaking so far this year.

Through the end of July, BIA says 224 radio stations have been involved in transactions valued at a combined $141.17 million. That means July alone accounted for more than one-fifth of the total dollar value of radio deals announced during the first seven months of the year.

The pickup follows a relatively quiet first half for the deal market. Through June, 197 stations had been sold for nearly $112 million, with smaller-scale transactions accounting for much of the activity.

July’s numbers provide a more encouraging start to the second half. They also provide some early support for BIA Managing Director Rick Ducey’s expectation that transaction activity could gain momentum during the coming months.

“It’s good to see some movement in the industry in terms of M&A,” Ducey recently told Inside Radio. As for the remainder of the year, he said, “Hopefully things keep picking up.”

Rather than expecting a return to large-scale consolidation, Ducey sees an ongoing “rationalization of assets” as broadcasters reassess their portfolios and buyers identify stations and clusters that better fit their own strategies.

But hurdles remain. Ducey points to a continuing “gap between buyer-seller valuation” in the broader capital markets, while uncertainty surrounding financing can also complicate transactions. “Debt financing is sort of risky sometimes,” he said.

BIA’s transaction data reflects deals when they are announced rather than when they close. Hoffmann Media Group last month announced a $20 million agreement to acquire six St. Louis stations from Audacy, a deal that would rank among the largest radio transactions announced this year. Draper Media also filed a $2.5 million deal to buy five stations from Forever Media in the Salisbury, DE-Ocean City, MD market.

BIA data shows television also recorded a significant increase in transaction value during July, although far fewer stations changed hands.

BIA says five television stations were involved in transactions worth a combined $52.55 million during the month. That lifted the year-to-date television total to 44 stations worth $130.43 million.

The July activity represents a substantial jump from where television stood at midyear. Through June, BIA had counted 39 TV stations involved in transactions worth $78 million. July therefore accounted for roughly 40% of television’s total transaction value through the first seven months of 2026.

Despite the much smaller number of television stations changing hands, the dollar value of TV deals continues to run relatively close to radio. Through July, radio transactions totaled $141.17 million compared with $130.43 million for television, even though more than five times as many radio stations have been involved in deals.

Read this week’s Deal Digest HERE.