Broadcast Asset Appraisals

All radio and TV stations in a market are not the same. Some broadcast facilities are“market competitive” and others lack critical elements that preclude them from succeeding. Are your stations being utilized to their maximum advantage?  Should stations be acquired or divested?

DEFcom Advisors, LLC prepares appraisals using information provided by our clients as well as other public information including data published by The Radio Advertising Bureau, Broadcast Investment Analysts, Nielsen, and other sources. This information taken together with DEFcom Advisors’ experience in buying, selling, operating and financing radio stations and radio companies over the last 32 years, provides the basis for our opinions. And although a number of different variables are studied including comparable sales, cash flow multiples and financial forecasts, the primary focus in establishing value is what a willing buyer is capable of paying given today’s capital markets. Consequently, DEFcom Advisors, LLC takes the view of the operator, the lender, and the investor to establish a price level at which a prospective buyer would not only be willing to purchase, but also capable to finance. The resulting fair market valuation describes what DEFcom Advisors, LLC believes would be realized in a 90-day marketing process.

DEFcom’s unique combination of financial services and broadcast operational experience allows us to quickly and accurately value your station portfolio and maybe more importantly identify “hidden” or “strategic” value in your company.

DEFcom’s services include:

• Evaluation of the potential results from technical upgrades or downgrades
• Evaluations related to potential transactions
• Due diligence support
• Valuations for recapitalizations, management buyouts, and joint ventures
• Valuations for succession planning, and estate planning