LFG sells 3 stations, getting out of the TV and radio business

[ciscoubr]

Lincoln Financial selling TV, radio stations, including WBT-AM and WBTV, for 683 million dollars

Lincoln Financial Group is getting out of the television and radio business.

The Philadelphia company says it's selling its three television stations, including WCSC in Charleston (South Carolina). The other stations are in Richmond, Virginia and Charlotte, North Carolina.

The company is also selling its sports syndication business. Raycom Media is buying them for 583 million dollars in cash.

Lincoln Financial's sports division was already working with Raycom in producing Atlantic Coast Conference and Southeastern Conference football and basketball.

Lincoln has reached a separate deal to sell two Charlotte radio stations Greater Media for 100 million dollars in cash.

[!]

LFM owns a lot more radio stations than the ones listed.

Are they selling those, too?

Otherwie, they're staying in the radio business.

[SamG]

That was quick. LFM just bought out Jefferson Pilot two years ago.

[ciscoubr]

LFG is getting out of the radio business entirely. As the afternoon drive guy said yesterday afternoon. "We will no longer have to explain how we do radio to folks who sell annuities!"