Broadcast transaction activity picked up across July and August, with both television and radio seeing notable deals. Television activity included Gray Media’s $50 million acquisition of three stations from American Spirit Media in July, while Sinclair Broadcast Group completed two transactions in August that brought previously separately licensed stations into direct Sinclair ownership.
The summer’s largest deals were concentrated among established broadcast groups and involved meaningful market footprints. Gray Media’s $50 million television acquisition and Hoffmann Media Group’s $20 million St. Louis radio acquisition were particularly notable, while the smaller transactions across both television and radio demonstrate continued activity at a range of deal sizes.
Radio was particularly active, with 49 commercial stations sold for a combined $53.2 million across July and August. The period included Hoffmann Media Group’s $20 million acquisition of six St. Louis stations from Audacy and Educational Media’s $8 million purchase of two stations from Beasley Media Group.
The activity continues to reflect a broadcast M&A environment where buyers are pursuing targeted opportunities that fit their existing strategies and market footprints. The transaction details below are tracked in BIA’s MEDIA Access Pro database.
Television Transactions: Gray Media Leads July Activity
Television activity was concentrated in July, when three transactions involved five stations and totaled $52.55 million.
Gray Media was the largest buyer during the month, acquiring three stations from American Spirit Media for $50 million:
- WUPW in Toledo, OH
- WDBD in Jackson, MS
- KVHP in Lake Charles, LA
Gray Media also acquired WLIC in Lexington, KY from Hour of Harvest for $2.3 million.
The only other Full Power or Class A television transaction in July was Loop Media’s acquisition of WJTS in Evansville, IN from Paul E. Knies for $250,000.
Sinclair Adds Two Stations in August
Television transaction activity was limited in August, with just two transactions, both involving Sinclair Broadcast Group.
Sinclair agreed to acquire WBSF-TV in the Flint market from Cunningham Broadcasting for $1.25 million and WGWG-TV in Charleston from Howard Stirk Holdings for $3.25 million.
The two transactions totaled $4.5 million and represent the conversion of previously separately held station licenses into direct Sinclair ownership.
Largest Television Transactions of 2026 (Year-to-Date)
The year-to-date rankings:
- EW Scripps acquired 23 television stations from INYO Broadcast Holdings for $54 million.
- Announced in March, the portfolio spans markets including Phoenix, Detroit, Denver, Cleveland-Akron, Indianapolis, Hartford-New Haven, Kansas City, West Palm Beach-Ft. Pierce, Grand Rapids-Kalamazoo-Battle Creek, Norfolk-Portsmouth-Newport News, Oklahoma City, Birmingham, Greensboro-High Point-Winston Salem, Memphis, Providence-New Bedford, Buffalo, Albany-Schenectady-Troy, Lexington, Spokane, Honolulu and Boise.
- Gray Media acquired WUPW, WDBD and KVHP from American Spirit Media for $50 million in July.
- EW Scripps acquired WTVQ in Lexington, KY from Morris Multimedia for $15.8 million in March.
Transaction Note: BIA records broadcast transactions when they are announced rather than when they close. As a result, the Nexstar-TEGNA transaction involving 62 television stations valued at $6.2 billion was included in BIA’s July 2025 transaction report when it was announced.
Radio Transactions: 49 Stations Change Hands in July and August
Radio transaction activity was stronger over the summer, with 26 commercial stations sold in July for $29.48 million and another 23 stations sold in August for $23.68 million.
Together, the two months produced 49 station sales totaling approximately $53.2 million.
Largest Radio Transactions in July
The largest July transaction was Hoffmann Media Group’s acquisition of six stations in St. Louis from Audacy for $20 million. The stations included WFUN-FM, KFTK-FM, KEZK-FM, KMOX-AM, KMOX-FM and KYKY-FM.
Other notable July transactions included:
- Draper Communications acquired five stations from Forever Media for $2.5 million: WAFL-FM, WNCL-AM, WCHK-FM, WXDE-FM and WAVD-FM.
- Educational Media Foundation acquired KBAY-FM in San Jose, CA from Connoisseur Media for $2 million.
- Good News Broadcasting acquired KMVA-FM in Phoenix, AZ from Zelus Esports for $1.5 million.
Largest Radio Transactions in August
August’s largest radio transaction was Educational Media’s acquisition of WNKS-FM in Charlotte, NC and KXTR-FM in Pahrump, NV from Beasley Media Group for $8 million.
Other notable August transactions included:
- Radio Training Network acquired KKEG-FM in Bentonville, AR and WIXV-FM in Savannah, GA from Cumulus Media for $2.05 million.
- Blacksun Private Equity acquired KASZ-AM in White Hall, AR and KLRG-AM in Sheridan, AR from Broadcast Industry Group for $2 million.
Largest Radio Transactions of 2026 (Year-to-Date)
The year-to-date rankings:
- Urban One acquired KKDA and KRNB in Dallas-Fort Worth from Service Broadcasting Group for $22 million in May.
- Hoffmann Media Group acquired six stations in St. Louis from Audacy for $20 million in July.
- MARC Radio Group acquired three stations in Florida, in Winter Haven, Lakeland and Auburndale, from Hall Communications for $9 million in February.
Transaction Updates
BIA also made several updates to previously reported transactions during the July and August reporting periods.
In July, BIA added the $110,000 sale of KUBQ-FM from Alexandra Communications to Elkhorn Media Group, originally announced in April.
In August, BIA added the $850,000 sale of KCBN-FM from Connoisseur Media to First Dallas Media, originally announced in March.
BIA also removed the previously reported $25,000 sale of WYVE-AM, WLOY-AM and WXBX-FM from Alamance Media Partners to Three Rivers Media, which had been reported in June.
As BIA continues to track the market, the transaction activity points to an environment where strategic fit remains a key driver of broadcast ownership changes, with buyers targeting assets that complement existing operations and strengthen their positions in selected markets.
BIA will continue to monitor announced broadcast transactions and provide monthly updates on ownership trends across the television and radio industries. More station, ownership and revenue details are available in our MEDIA Access Pro database. Email sales@bia.com to request a demo.
