Times Mirror Discusses Sale of 4 Network TV Stations
- Share via
Times Mirror Co. is in discussions over the possible sale of its four network-affiliated television stations, the Los Angeles-based media company said Tuesday.
The sale would complete a shift away from broadcast television. The company said a transaction had not been agreed upon, and it was uncertain whether a final agreement would be reached.
Sources said the value of the transaction, if completed, would be several hundred million dollars.
Times Mirror, which publishes the Los Angeles Times, owns KDFW-TV in Dallas, KTBC-TV in Austin, Tex., KTVI-TV in St. Louis and WVTM-TV in Birmingham, Ala. The stations collectively had revenue of $107.9 million last year and operating profit of $29.9 million.
In 1992, the stations accounted for about 3% of Times Mirror’s total revenue.
Sources said Times Mirror is negotiating with a partnership made up of New York investment bank Donaldson, Lufkin & Jenrette and Argyle Communications. Argyle partners include Robert Marbut, former head of the TV group of San Antonio-based Harte Hanks Communications, and Blake Byrne, former president of LIN Broadcasting.
Byrne and Marbut did not return phone calls Tuesday.
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
