Major Media Company Lists Five TV Properties for Sale — Including One in Mid-Michigan

A major media company is putting five of its TV properties on the market — and one of them is right here in Mid-Michigan. While the sale involves studio buildings, not the stations themselves, it raises questions about what operational changes could be in store for a local TV station.

Real Estate Move Raises Questions About the Future of Local TV

The global real estate and investment management company JLL indicates that five of Allen Media Group's broadcast facilities are up for sale.

These properties include the studio building for WJRT-TV, located at 2302 Lapeer Road in Flint. According to the listing, the Flint property is valued at $12.8 million.
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In addition to ABC-12's facility, the site lists four other Allen Media properties currently on the market:

• Fort Wayne, IN – $5.4 million
• Madison, WI – $9.8 million
• Mason City, IA – $5.9 million
• Tucson, AZ – $11.9 million

While these five broadcast properties are potentially for sale or lease, there is no indication that the company is selling its broadcast licenses or the stations themselves.

This type of move can occur when a media company looks to reduce overhead by selling real estate and leasing it back. A sale-leaseback agreement allows the original owner to convert a property's equity to cash while continuing to use the facility.

Are Changes at Allen Media Stations on the Horizon?

Listing physical properties for sale and entering into a sale-leaseback agreement doesn't necessarily signal operational changes. However, if the stations' parent company is looking to raise operating capital, it could be a sign of financial strain.

Earlier this year, Allen Media attempted to cut costs by eliminating local meteorologists and centralizing weather operations at The Weather Channel headquarters in Atlanta, Georgia. That decision was met with immediate backlash from both the public and advertisers — and was ultimately reversed, sparing three Flint weather personalities.

Recent changes at WJRT-TV include the departure of longtime anchor Matt Franklin and the temporary return of Christina Burkhart.

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