Lincoln Financial Group is exploring strategic options for its media wing, which owns three TV stations and several radio properties. The TV stations include market leader WWBT Richmond , WCSC Charleston and WBTV Charlotte. It’s also looking to unload its sports syndication and production business. Lincoln enlisted Merrill Lynch to advise the firm on its options, including "divestiture strategies for the media business."
"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," said LFG Chairman and CEO Jon A. Boscia.
Through its affiliated companies, Philadelphia-based Lincoln Financial Group offers insurance, mutual funds, and financial planning, among other services. It manages some $237 billion in assets.