BUYER POOL ANALYSIS
Selling a Radio Television to Private Equity / PE-Backed Roll-Up buyers
Private equity firms and PE-backed platform consolidators acquiring for roll-up, add-on, or platform plays. Pricing tends to lead the market for fee-viable scale, with multi-bidder competitive processes above the EBITDA floor.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 12.88x across 18 disclosed deals (P25: 7.13x, P75: 21.18x). Median EV/Revenue 2.71x across 18 deals. Median deal value: $231.06M.
- How many disclosed transactions?
- 18 deals total (4 from 2018+), filtered to Private Equity / PE-Backed Roll-Up acquirers of radio television businesses.
- Most active buyers
- Capstar Broadcasting Partners, Inc. (2) · DIRECTV Holdings, LLC (1) · Liberty Latin America Ltd. (1) · Stingray Group Inc. (1) · Abrams Capital, LLC (1) · Rogers Media Inc. (1)
Recent disclosed deals
Private Equity / PE-Backed Roll-Up acquisitions of radio television businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2024 | DISH DBS Corporation | DIRECTV Holdings, LLC | $13817.1M | 4.5x | 1.28x |
| 2018 | Liberty Cablevision of Puerto Rico LLC | Liberty Latin America Ltd. | $185.2M | 18.7x | 6.56x |
| 2018 | Newfoundland Capital Corporation Limited | Stingray Group Inc. | $374.2M | 9.7x | 3.00x |
| 2018 | iHeartMedia, Inc. | Abrams Capital, LLC | $1.6M | 12.9x | 3.21x |
| 2012 | Score Media Inc. | Rogers Media Inc. | $152.6M | 34.4x | 3.10x |
| 2011 | Global Traffic Network Inc. | GTCR LLC | $234.9M | 12.8x | 2.00x |
What this buyer pool prices for
Private equity acquirers price for scale and roll-up arbitrage. They pay up for businesses that fit a platform thesis — recurring revenue mix above 30%, technician/professional depth, clean financials, and a management layer that survives integration. The same radio television can command 1.5x to 2x the multiple of an individual-buyer transaction simply because the PE buyer is acquiring a platform piece, not an owner-operated shop.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to radio television businesses acquired by private equity / pe-backed roll-up 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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