Television fuels record-breaking trading quarter.

According to Kagan (a division of S&P Global), total station deals in the second quarter of 2018 hit $5.11 billion, an 11-year high. Over 98% were TV station deals, led by Gray Television buying Raycom Media and the spinoffs from the Sinclair-Tribune deal. The over $100 million radio contribution was topped by Cumulus’s purchase of WKQX/Chicago, three translators from EMF to Urban One, and some stations sold by Ingstad Radio Washington LLC to Stephens Family LP.