RAYCOM PARENT COMPANY MAY BE FOR SALE
Ellis Communications, the company which owns Charlotte-based
Raycom Inc., is considering putting itself up for sale, according
to David Mildenberg of the CHARLOTTE OBSERVER. Ellis, which is
based in Atlanta, has hired investment firm Goldman Sachs to help
them explore "strategic alternatives." Ellis CEO Bert Ellis:
"With the telecommunications bill and deregulation coming down
the pike, there's going to be a boat-load of consolidation."
Ellis has said the company "might fit well with Jefferson-Pilot,"
the Greensboro-based insurer that also owns TV and radio
stations." A JP official declined to comment on Ellis' remarks.
Raycom and JP jointly hold rights to televise ACC basketball and
to sell of ACC-licensed merchandise. Raycom employs 70 people in
Charlotte, Chicago, Dallas, Ft. Lauderdale, L.A. and New York.
Raycom Exec VP Ken Haines: "If something could happen involving
us becoming a larger factor in sports television, that would be
great" (David Mildenberg, CHARLOTTE OBSERVER, 1/16).