Report: Sale Of Lincoln Financial TV Stations Near
October 26, 2007 at 5:47 AM (PT)
REUTERS is reporting that LINCOLN FINANCIAL MEDIA is close to selling its TV assets, including three TV stations, to RAYCOM MEDIA. The wire service quotes sources as saying that RAYCOM beat OAK HILL PARTNERS, backing RANDY MICHAELS' LOCAL TV LLC in the bidding.
As for the company's 18 radio stations, REUTERS says that the sale of the stations is "unclear" because parties, including ENTERCOM, CUMULUS, and BONNEVILLE, were interested in buying stations separately rather than as a group and bids were "thought to be at a disppointing price."