Bear Stearns analyst Victor Miller was not surprised by Nexstar’s announcement. Just a few hours earlier he’d published a note to investors predicting that both Nexstar and LIN would be pulled off the auction block because of the deteriorating financing markets. He was quickly proven right about Nexstar. Will there be an announcement from LIN as well?
News Corporation also has nine of its smaller market TV stations on the market and Lincoln Financial Group is investigating possible sales of its Lincoln Financial Media radio and TV groups. Miller thinks those sale processes will continue.