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Lincoln Financial Media taking bids
Confirming speculation over the past couple of months (4/27/07 TVBR #83), Lincoln Financial Group announced late yesterday that it has engaged Merrill Lynch & Co. to advise it on options for its broadcast group, Lincoln Financial Media, including possible divestitures.
"Lincoln Financial Media is a well run business unit and widely respected within the broadcast industry. 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 Jon A. Boscia, Chairman and CEO of Lincoln Financial Group.
Lincoln, a Philadelphia-based insurance company, acquired the radio and TV operations with its 2005 acquisition of Jefferson-Pilot Corporation for 7.5 billion.
TVBR observation:
We gave you the shopping list on May 1st, but it is worth another look. These are primo properties in strong markets, pretty much without exception. These radio and TV properties should bring 1.5 billion and then some.
Lincoln Financial Media television group
|
CALLS
|
Channel
|
Affiliation
|
Market
|
Rank
|
Revenue 2006 (000)
|
|
WBTV
|
3
|
CBS
|
Charlotte, NC
|
26
|
45500
|
|
WWBT
|
12
|
NBC
|
Richmond-Petersburg, VA
|
61
|
30000
|
|
WWBT-DT
|
0
|
Wx+
|
Richmond-Petersburg, VA
|
61
|
0
|
|
WCSC-TV
|
5
|
CBS
|
Charleston, SC
|
100
|
16600
|
|
Total
|
|
|
|
|
92100
|
Lincoln Financial Media radio group
|
CALLS
|
AM or FM
|
Format
|
Market
|
Rank
|
Revenue-2006 (000)
|
|
WQXI
|
AM
|
Sports
|
Atlanta, GA
|
9
|
9700
|
|
WSTR
|
FM
|
Top 40
|
Atlanta, GA
|
9
|
26550
|
|
WLYF
|
FM
|
AC
|
Miami-Ft. Lauderdale, FL
|
12
|
18100
|
|
WMXJ
|
FM
|
Oldies
|
Miami-Ft. Lauderdale, FL
|
12
|
12200
|
|
WAXY
|
AM
|
Sports
|
Miami-Ft. Lauderdale, FL
|
12
|
1800
|
|
KSOQ
|
FM
|
Country
|
San Diego, CA
|
17
|
0
|
|
KSON
|
FM
|
Country
|
San Diego, CA
|
17
|
10650
|
|
KIFM
|
FM
|
Smooth Jazz
|
San Diego, CA
|
17
|
7600
|
|
KBZT
|
FM
|
Alternative
|
San Diego, CA
|
17
|
5900
|
|
KYGO
|
FM
|
Country
|
Denver-Boulder, CO
|
22
|
19300
|
|
KEPN
|
AM
|
Sports
|
Denver-Boulder, CO
|
22
|
975
|
|
KKFN
|
AM
|
Sports
|
Denver-Boulder, CO
|
22
|
4075
|
|
KQKS
|
FM
|
HpHop/RhyBl
|
Denver-Boulder, CO
|
22
|
8900
|
|
KJCD
|
FM
|
Smooth Jazz
|
Denver-Boulder, CO
|
22
|
4100
|
|
WBT
|
AM
|
News/Talk
|
Charlotte, NC
|
33
|
12000
|
|
WLNK
|
FM
|
Talk/AC
|
Charlotte, NC
|
33
|
9625
|
|
WBT
|
FM
|
News/Talk
|
Charlotte, NC
|
33
|
0
|
|
Total
|
|
|
|
|
151475
|
Source: BIAfn Media Access Pro
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