Raycom buys Lincoln TV for $583 million

Lincoln TV, the former Jefferson-Pilot station group, was sold to Raycom for $583 million. The group includes CBS affiliates WBTV in Charlotte and WCSC in Charelston, S.C., and NBC affiliate WWBT in Richmond, Va.

Lincoln’s sports production unit was also sold, and will be folded into Raycom Sports. Lincoln (and its predecessor Jefferson-Pilot), was responsible for syndicating a package of ACC and SEC college basketball and college football to broadcast TV stations in the South.

Raycom will have to sell one of its stations in Richmond because it already owns CBS affiliate WTVR because of duopoly restrictions (WWBT is number one in total-day ratings and news; WTVR is number three.)

Lincoln also sold its radio stations in Charlotte (WBT-AM-FM and WLNK-FM) to Greater Media.