Greensboro may be losing Lincoln Financial(sports)

Posted by Andy Durham on November 12, 2007 at 5:21 pm under College, Uncategorized | Comments are off for this article

another interesting article today from the www.charlotte.com site and since Lincoln Financial has had their sports division in Greensboro in the old Jefferson Pilot building now the Lincoln Financial building, we need to take a look at how this might effect future sports broadcasting, the ACC football and basketball telecasts and the ACC basketball tournament.

Charlotte’s heritage broadcasters — WBTV (Channel 3) and radio station WBT-AM (1110) — have been sold, it was announced Monday.

Raycom Media Inc., based in Montgomery, Ala., acquired the television station and two others owned by Lincoln Financial Group, WWBT in Richmond and WCSC in Charleston.

Included in the deal in Lincoln Financial’s sports division(based in Greensboro for many years), which partners with Raycom in producing for Atlantic Coast Conference(home office at Grandover in Greensboro) and Southeastern Conference football and basketball. In all, Raycom paid $583 million in cash, with about $30 million of that going for the sports operation.

WBT and its sister station, WLNK-FM (“The Link” 107.9) were sold to Greater Media Inc., based in Braintree, Mass., for $100 million.

Greater Media owns five FM stations in Boston, three in Detroit, four in New Jersey, and four in Philadelphia. It also owns four AM stations in New Jersey and Philadelphia and community newspapers in New Jersey.

Both Raycom and Greater Media are privately held.


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