BUYER POOL ANALYSIS
Selling a Radio Television to Individual / Owner-Operator buyers
Owner-operators, SBA-financed independent buyers, and smaller management buyouts. Pricing reflects what an individual can finance (typically 10-25% down + SBA 7(a)) and operate hands-on. Below typical PE engagement size.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 12.86x across 17 disclosed deals (P25: 9.21x, P75: 16.33x). Median EV/Revenue 3.27x across 20 deals. Median deal value: $319.13M.
- How many disclosed transactions?
- 23 deals total (1 from 2018+), filtered to Individual / Owner-Operator acquirers of radio television businesses.
- Most active buyers
- Altice Europe N.V (:ATC) (1) · Playboy, Inc. (1) · AMFM Inc. (:AFM) (1)
Recent disclosed deals
Individual / Owner-Operator acquisitions of radio television businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2015 | Cequel Communications Holdings I, LLC d/b/a Suddenlink Communications | Altice Europe N.V (:ATC) | $9100.0M | 12.7x | 4.61x |
What this buyer pool prices for
Individual buyers — owner-operators, SBA-financed independents, smaller management buyouts — price for what they can finance (typically 10-25% down with SBA 7(a) loans up to $5M deal value) and operate hands-on. Multiples are below PE / strategic because the buyer is taking the owner-operator role, not stepping in as institutional capital. Owner-dependency and seasonality matter more here than to a PE buyer.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to radio television businesses acquired by individual / owner-operator buyers. EV/EBITDA outliers outside the [0.5x, 60x] band and EV/Revenue outliers outside [0.05x, 25x] are excluded from medians. Where available, post-2018 transactions are weighted; otherwise the all-time sample is used. Deal counts shown reflect deals with disclosed financials only — total transaction count for this buyer pool is typically 2-3x larger. Full methodology
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