Report: Lincoln Financial Exploring Sale Of Stations
April 26, 2007 at 11:42 AM (PT)
The WALL STREET JOURNAL is reporting that LINCOLN NATIONAL CORP. is exploring the sale of its broadcast and media subsidiary and is in the process of hiring advisors for a potential deal. A sale of the television and radio stations and production and syndication operations might raise $1.5 billion for the company.
LINCOLN FINANCIAL MEDIA owns 18 radio stations, three TV stations, and the production company that produces and distributes SEC and ACC football and basketball. LINCOLN acquired the stations when it bought JEFFERSON-PILOT CORP. in 2005.