Lincoln Financial never wanted to be in the radio business. They are primarily an insurance company.<\/p>\n
WBT in Charlotte (TV and Radio) was owned by Jefferson Pilot Briadcasting, owned by the Jefferson Pilot holding company, based in Greensboro, NC. They owned a total of 3 TV and 18 radio stations, reflecting the pre 1996 national ownership caps.<\/p>\n
Lincoln Financial lusted after Jeffereon Pilot’s insurance portfolio and acquired the company in 2008. By then, the value of radio and TV station licenses was in free fall, and Lincoln decided to retain the stations waiting for a recovery or at least an exit deal with tax benefits.<\/p>\n
Lincoln did unload WBT-AM and WLNK-FM to Boston based Greater Media in late 2008, but has been holding on to their stations in Denver, Miami, San Diego and Atlanta – all major markets.<\/p>\n
The deal was just announced that Entercom will be acquiring all of these stations. The price is $105 million – $77.5 million in cash and $27.5 million in new preferred Entercom stock<\/p>\n
Entercom you may know as the operator of WRKO in Boston, WWL in New Orleans, WGR in Buffalo, WEEI sports network – a total of around 230 radio stations<\/p>\n","protected":false},"excerpt":{"rendered":"
Lincoln Financial never wanted to be in the radio business. They are primarily an insurance company. WBT in Charlotte (TV and Radio) was owned by Jefferson Pilot Briadcasting, owned by the Jefferson Pilot holding company, based in Greensboro, NC. They … Continue reading