Raycom Eyeing Lincoln National Television Assets
Three TV Stations -- WCSC Charleston, S.C.; WBTV Charlotte, N.C.; WWBT Richmond, Va. -- on Block?
By Jon Hemingway -- Broadcasting & Cable, 10/26/2007 5:43:00 PM
Station operator Raycom Media may be in the market for Lincoln National’s television assets.
Montgomery, Ala.-based Raycom is eyeing three television stations held by Lincoln National subsidiary Lincoln Financial Media valued at $500 million, according to a report by Reuters: WCSC Charleston, S.C.; WBTV Charlotte, N.C.; and WWBT Richmond, Va.
Lincoln National is looking to unload its media group, and it hired Merrill Lynch in June to help find a buyer for the assets. Lincoln Financial Media also owns 18 radio stations and a production and syndication business that covers Southeastern Conference and Atlantic Coast Conference sports. But while Raycom holds a substantial portfolio of television-station assets -- 42 stations in 18 states -- it does not hold any radio.
A spokesperson for Lincoln National called the wire report “completely speculative,” while officials at Raycom would not comment.
