Lincoln Financial Media Poised For Sale
June 7, 2007 at 1:55 PM (PT)
LINCOLN FINANCIAL GROUP (LFG) announced today (6/7) it will "explore strategic options" for LINCOLN FINANCIAL MEDIA, which owns radio stations in five markets, as well as TV stations and the LINCOLN FINANCIAL SPORTS syndication and production business. The company has hired MERRILL LYNCH & CO. to advise on a range of options, including divestiture strategies for the media business.
"LINCOLN FINANCIAL MEDIA is a well-run business unit and widely respected within the broadcast industry," LFG Chairman/CEO JON BOSCIA said. "As we begin our evaluation of strategic options for this business we look forward to determining a favorable course of action to benefit our key stakeholders."
LFM owns Sports WQXI and Top 40 WSTR/ATLANTA; Sports WAXY, AC WLYF and Oldies WMXJ/MIAMI; Country KSON & KSOQ, Alternative KBZT and Smooth Jazz KIFM/SAN DIEGO; Sports KKFN, Sports KEPN, Smooth Jazz KJCD, Top 40/Rhythmic KQKS and Country KYGO/DENVER; and News/Talk WBT-A & F and Hot AC WLNK/CHARLOTTE.