Fort Wayne TV station owners considering sale

Greater Fort Wayne Business Weekly

The owners of two Fort Wayne television stations are considering selling their companies.

WANE, channel 15, parent Lin TV Corp. and WFFT, channel 55, parent Nexstar Broadcasting Group Inc. both announced late last week they were exploring "strategic alternatives," including the possible sale of the companies.

Both companies said there is no indication the strategic alternatives would result in a sale. Lin said in a written statement it would have no further comment unless there is a transaction. Nexstar said in a written statement it would not comment until the process is complete.

Lin has retained J.P. Morgan Securities Inc. to assist the company. Nexstar hired Goldman Sachs Group Inc.

WANE is a CBS affiliate, and WFFT is a Fox affiliate.

Granite Broadcasting Corp., which owns WISE, channel 33, and operates WPTA, channel 21, is undergoing a Chapter 11 bankruptcy restructuring process. A federal judge approved the company's restructuring plan May 18.