Financial services company Lincoln National Corp. said Thursday it is considering a possible sale and other options for Lincoln Financial Media, which owns and operates television and radio stations across seven major markets, as well as the Lincoln Financial Sports syndication and production business.

The company has engaged Merrill Lynch & Co. as an adviser.

Lincoln inherited its media businesses through its merger with Greensboro, N.C,. insurer Jefferson-Pilot Corp. last year. It included three television stations, 18 radio stations and the sports business, which televises collegiate events from the Atlantic Coast Conference.

Reports first surfaced in April that the company, whose marketing name is Lincoln Financial Group, was trying to sell those interests.

The company said there should be no assumption that the review will result in a transaction.The company does not intend to provide updates to the strategic review process or disclose developments or potential outcomes until and unless a definitive course of action is reached.

Based in Philadelphia, Lincoln (NYSE:LNC - News) had $237 billion of assets as of March 31. Through its affiliated companies, Lincoln offers a variety of insurance and investment products.

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Published June 7, 2007 by the Philadelphia Business Journal