In an announcement this morning, Allbritton Communications’ CEO and Politico Publisher Robert Allbritton announced the company would explore selling their television properties.
“The Company has retained Moelis & Company LLC as its financial advisor and Paul Hastings and Dow Lohnes as its legal counsel,” according to the release. There is currently “no timetable for the strategic review process” and the release goes on to stress it will not effect Politico, which is handled as a separate company.
Obviously, the best place to look for actual quotes is Mike Allen’s Playbook, which runs selections from Robert’s email to the Politico staff:
“This is the Golden Age of new media innovation, and I intend to stay on the leading edge of it…So, I will be looking to invest in or launch media companies that follow the POLITICO model of dominating targeted coverage – and then using multiple revenue streams to profitably fund it. I see a very bright future for media companies like this and plan to show this with substantial investment in coming months and years.”
The potential sale affects eight channels, two of which are local favorites WJLA and NewsChannel 8 (formerly the TBD channel for 45 seconds). The announcement hasn’t yieled any other information except a massive shot across the bow of Washington media, especially as NBC has reupped their contract with Maria Shriver and Chris Matthews–and killed off “The Chris Matthews Show.”