Station-in-distress WLNE has six bidders vying for contention. According to Broadcasting & Cable, the struggling Providence ABC affiliate has received interest from six different firms after entering into receivership in July 2010.
Steve Doerr, the station’s Vice-President and General Manager, explained that the station has received significant interest and that a decision will be made over the next few weeks. “It’s a slow process but we’re getting there,” he explained, adding that he could not disclose the names of the interested parties due to a confidentiality agreement.
WLNE’s parent company, Global Broadcasting of New England, acquired the station in 2007 for $14 million from Freedom Communications, which is also facing financial problems. That company filed for Chapter 11 Bankruptcy in 2009. New York-based media brokerage firm Cobb Corp. is handling the sale.
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