Raycom Grabs Lincoln Financial Stations
The Alabama-based company will acquire WBTV Charlotte, WWBT Richmond and WCSC Charleston (SC)
By Michael Malone -- Broadcasting & Cable, 11/12/2007 7:44:00 AM MT
Raycom Media has agreed to acquire Lincoln Financial Group’s television operations, which includes three stations, as well as Lincoln Financial Sports, for $583 million. The stations are WBTV Charlotte, WWBT Richmond and WCSC Charleston (SC).
Lincoln Financial Sports broadcasts live sports, such as ACC and SEC college football and basketball.
Alabama-based Raycom currently owns or operates 42 stations. President/CEO Paul McTear (who was recently inducted into the B&C Hall of Fame), said the deal allowed Raycom to move into an “exceptionally attractive group of markets, exactly the kind of markets where we excel as an industry leader in building revenue and viewership.” McTear added that the stations are “well-known and respected in our industry for their superior news products.”
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