Outlet examines options; broadcaster enlists Goldman Sachs for advice on expansion possibilities. (Outlet Communications)(Brief Article)

Broadcasting & Cable, March, 1995 by McClellan, Steve

Broadcaster enlists Goldman Sachs for advice on expansion possibilities Providence, R.I.-based Outlet Communications has hired New York investment banker Goldman Sachs to help it analyze strategic options. According to Outlet Chairman Jim Babb, those options include: * merging with another entity, * expanding its current three-station group piecemeal, or * maintaining the status quo.

"We just feel it's appropriate to let an outside, objective third party help us to do the evaluations," Babb says of the company's retention of Goldman Sachs. Outlet recently reported that in 1994 the company had its best operating results since it went public in 1987. Net income for the year was up 128%, to $10.6 million ($1.61 per share), on revenue of $59.4...

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