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Allbritton Communications Co.
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An intriguing and promising by-product has emerged from the $985 million sale of Allbritton Communications Co. and its seven TV stations to Baltimore-based Sinclair Broadcast Group, a deal that Sinclair CEO David Smith deems a "once-in-a-lifetime event."
Baltimore-based Sinclair Broadcast Group will break into the lucrative Washington media market with the purchase of WJLA-TV and NewsChannel 8 from the Allbritton family, which plans to focus more time and resources on its Washington-based political news website Politico and other online media following a nearly $1 billion deal announced Monday.
Joe L. Allbritton, who became one of Washington's most influential men through a media conglomerate that included newspapers and television stations and a financial empire that once included Riggs Bank, died Wednesday. He was 87.