The cloudy future of ABC 6August 2nd, 2010 at 11:25 am by Ted Nesi under General Talk
I have a new story up on the main site about the potential of a new owner stepping in to buy ABC 6 out of receivership:
WLNE-TV ABC 6 may have trouble finding a buyer if its owner decides to sell after a 30 percent drop in revenue pushed the station into receivership last week.
“There are a lot of stations on the market and not a lot of buyers right now,” said Blair Levin, a fellow at the nonprofit Aspen Institute who was a senior official at the Federal Communications Commission until May. WLNE may be more attractive if its balance sheet is cleaned up during receivership, he said. …
WLNE’s revenue from advertising and other sources was $5.9 million in 2009, down from $8.2 million in 2008, according to BIA Financial Network Inc., a Virginia research firm. A decade ago, in 2000, WLNE’s revenue totaled $15.1 million.