Allbritton Launches Sale Balloon
ARLINGTON, VA. -- Allbritton Communications put itself out there today, announcing its “intention to explore and evaluate potential strategic alternatives, which may result in, among other things, the possible sale.” Albritton has retained Moelis & Co. LLC as its financial advisor and Paul Hastings and Dow Lohnes as its legal counsel.
In a statement issued this morning, the company said that no decision had been made to pursue any specific strategic transaction or any other strategic alternative, and that there was no timetable for the strategic review process. It said there was no certainty that the endeavor would result in a sale.
“The company does not intend to comment further regarding the evaluation of strategic alternatives until such time as its Board of Directors has determined the outcome of the process or otherwise has deemed that disclosure is appropriate.
Allbritton owns and operates through subsidiaries and affiliates, seven ABC Network stations serving approximately 5 percent of total U.S. viewers. The company also owns NewsChannel 8, a 24-hour, local news service in the Washington-Virginia-Maryland area, and Politico. It has been owned by the Allbritton family since 1976.
Included in the group are the following stations and associated markets:
WJLA-TV and NewsChannel 8, Washington, D.C. (No. 8) WCFT-TV/WJSU-TV/WBMA-LP, Birmingham-Tuscaloosa-Anniston, Ala. (No. 42) WHTM-TV, Harrisburg, Pa. (No. 43) KATV, Little Rock, Ark. (No. 56) KTUL, Tulsa, Okla. (No. 59) WSET-TV, Lynchburg, Va. (No. 68) WCIV, Charleston, S.C. (No. 98) (held in an affiliated company).
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