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Industry sources say independent station WCLQ-TV, Channel 61, is on the selling block. However, an official with the company that owns the Cleveland station says no decision has been made about WCLQ's future.
WCLQ's owner and operator, Channel Communications Inc. of Nashville, Tenn., announced recently that it had hired the investment banking firm of Shearson Lehman Brothers Inc. "for the purpose of evaluating the company's strategic alternatives in the broadcast industry."
Jack White, WCLQ's general manager, said the announcement likely was made to quell sale and takeover rumors that had been circulating about the station.
"We realize we are a target for a takeover," White said, explaining that the type of programming WCLQ airs, such as "Dallas," attracts national advertisers and, therefore, attracts national attention.
Channel Communications also owns KAIT-TV, a VHF, ABC affiliate in Jonesboro, Ark., and is negotiating with the Federal Communications Commission for a third television station in Lake Charles, La. White said Channel also may buy two more VHF television stations.
Channel president Brian Byrnes said neither the Cleveland nor the Jonesboro stations are for sale at this point.
"But I couldn't categorically rule out (a sale) as far as the total company is concerned," Byrnes said.
He said Shearson Lehman Brothers is studying Channel's options to determine if the company should be taken public or sold, or whether either or both of its...