More Sellers Than Buyers In Station Market
With four significant TV station group deals within the past year, there is a growing number of groups up for sale. But right now few buyers are willing to pay the multiples that the sellers are demanding. “Owners are either going to have to take lower prices and come out under water or hold stations for another two years,” says broker Larry Patrick.
McGraw-Hill Cos., owner of Standard & Poor’s, has “underperformed its potential” and should break into four parts, shareholders Jana Partners LLC and Ontario Teachers’ Pension Plan proposed. The shareholders presented a plan to separate the company into four units —S&P, the S&P index business, information & media, and education — as well as buy back more shares, Jana said late Monday in a regulatory filing.
