How Much Is Your Media Property Worth? Portada’s Media Pricing Guide

Portada’s research team sheds some light on the current valuation of different media types:

Media Type

Valuation 2006 (EBITDA Multiple)

Valuation Now
(EBITDA Multiple)

Comment

Social Networking Sites

NA

2-3 times sales

Despite a lot of buzz, the advertising revenue model of social networking sites has yet to be proven, also in the Hispanic market.

Online Advertising Networks

 

6-12 times revenues

Due to the high growth of the sector multiples are very high. In the Hispanic market they will tend to be higher (due to higher growth), but investments are also more risky (market is less mature), which weighs down on valuation.

Radio Stations

NA

1.5-2.5 sales

Radio advertising market has been relatively stagnant.

Metropolitan Dailies

11-14

5-8

Large metro dailies and publicly-traded newspaper groups have lost up to 75% of their value. Very competed Markets. Losing advertising revenues to online pure plays.

Small Dailies

Double Digits

7-10

Smaller markets, Strong local content franchise. Relatively protected from competition.

Large Weeklies

NA

5-8

Tend to be in large market which are very competitive.

Community Newspapers

6-9

4-7

Strong franchise in their communities has maintained valuation relatively stable.

Alternative Weeklies

6-9

4-7

Tend to have strong websites and good demographics.

Other Free Newspapers

6-9

NA

E.g. Commuter newspapers.

Hispanic Newspapers

Likely similar to Community Newspapers

Likely similar to Community Newspapers

Their valuation will range from the multiples of small dailies to Community Newspapers. Likely to have a premium do to be exposed to a growing Market.

Small Weeklies and Shoppers

NA

4-6

Similar to Community Newspapers

Source: Cribb & Greene & Portada

Related Articles:

May 19, 2008 A Newspaper Broker Provides Advice to Hispanic Publishers

December 17, 2007: A Silicon Valley Venture Capitalist looks into Hispanic Media

February 5, 2007: “We are open to acquire Spanish-language Community Newspapers

September 1, 2005: Wanted Newspaper Properties in Second and Third Tier Markets


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