Radio Stations Values Sink in Q1

Less than $1 billion worth of radio stations traded hands last year. First quarter this year looked even worse, with only 164 stations being sold for a total of just $46 million, according to BIAfn, the Chantilly, Va., data collection service that monitors media deals. In all, some 769 stations were sold in 2008 for about $700 million, the sixth time since 2001 that 1,000 or fewer stations were sold but the first time that the total valuation of deals had fallen below $1 billion.

In 2002, an identical number of stations were sold but for $5.4

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