Channel 7 Still Looking for a Buyer

by Arkansas Business Staff  on Monday, May. 13, 2013 12:00 am  

KATV Hasn’t Sold, Yet

If you’ve heard that Allbritton Communications Co. of Arlington, Va., has sold Little Rock’s KATV-TV, Channel 7, and seven other TV stations, then you’ve heard wrong.

Jerald Fritz, senior vice president of Allbritton, gave Whispers a definitive “no” answer when asked if the stations have sold.

But the company aims to find a buyer by the end of the summer, Fritz said.

Allbritton is looking to get out of the TV business, according to a May 1 announcement from Robert Allbritton, the company’s chairman and CEO. Investment bankers are gathering data on Allbritton’s eight stations in seven markets, Fritz said, and the company expects to court prospective buyers and see bidding begin in the summer. An asking price for the group of stations hasn’t been disclosed.

A timeline for an actual deal to go through would depend on regulatory approvals from the Federal Communications Commission and the U.S. Department of Justice, Fritz said.

 

 

Please read our comments policy before commenting.
Search

Latest Arkansas Business Poll

Did the Fed make the right call on interest rates?