Charleston’s ABC television station is on the sales block.
Owner Allbritton Communications Co. said it’s exploring “potential strategic alternatives,” including a sale of its entire business.
Among the company’s main holdings are WCIV-TV ABC News-4 in Mount Pleasant and a stable of other television stations in Washington D.C., Alabama, Arkansas, Oklahoma, Pennsylvania and Virginia.
“The company has not made a decision to pursue any specific strategic transaction or any other strategic alternative, and there is no timetable for the strategic review process,” Allbritton said today in a written statement. ”There can be no assurance that the exploration of strategic alternates will result in the consummation of any transaction.”
The Arlington, Va.-based company said it would have no further comment until its board reaches a decision.
The move comes less than six months after the death of 87-year-old family patriarch Joe Allbritton, who was one of most influential powerbrokers in the nation’s capital through a media conglomerate and a financial empire.
He bought WCIV in January 1976. The station broadcasts from Allbritton Boulevard in Mount Pleasant.
Contact John McDermott at 937-5572.
Notice about comments: