The cloudy future of ABC 6

I have a new story up on the main site about the potential of a new owner stepping in to buy ABC 6 out of receivership:

WLNE-TV ABC 6 may have trouble finding a buyer if its owner decides to sell after a 30 percent drop in revenue pushed the station into receivership last week.

“There are a lot of stations on the market and not a lot of buyers right now,” said Blair Levin, a fellow at the nonprofit Aspen Institute who was a senior official at the Federal Communications Commission until May. WLNE may be more attractive if its balance sheet is cleaned up during receivership, he said. …

WLNE’s revenue from advertising and other sources was $5.9 million in 2009, down from $8.2 million in 2008, according to BIA Financial Network Inc., a Virginia research firm. A decade ago, in 2000, WLNE’s revenue totaled $15.1 million.

Read the whole thing, as they say. And if you’re interested in some of the history of how the station ended up here, check out this piece Ian Donnis wrote in 2005 for The Providence Phoenix.

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