Radio industry sales continue downward slide

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Chantilly, Va.—The radio industry this year will record its second straight year of negative growth, with station sales falling a projected 7%, following a 2007 drop of 2.2%.

Financial consulting company BIA Advisory Services, in the fourth annual edition of its “Investing in Radio Market Report,” said radio station sales will total $16.7 billion this year, the lowest total in more than five years. Sales could drop to as low as $15 billion in 2009, according to BIA, before possibly rebounding in the next decade.

The report also noted that 641 stations were sold in the first 10 months of this year in deals valued at a combined $698 million. This represents a drop of 34% in the number of stations sold from the same period in 2007 and a 44% decline in value.

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