• by David Goetzl  @dgoetzl, November 13, 2007

Despite some station groups struggling to unload assets during the recent credit crunch, Lincoln Financial said Monday it has reached a deal to sell its trio of stations in Charlotte, Richmond, and Charleston to Raycom Media for $583 million.

The deal is another sign that station deals may continue to get done despite the economic bumps. News Corp. has said it's willing to sell its nine stations currently on the block at a lower price than it might have collected before--although not at a bargain-basement rate.

And last week, Young Broadcasting said it continues to have conversations about unloading its San Francisco MyNetworkTV affiliate. Privately owned Raycom, which operates 42 stations, will also take control of Lincoln's sports syndication business; part of that involves a joint venture the two have entered into for ACC college sports broadcasts.

Lincoln Financial will also sell its two radio stations in Charlotte to Greater Media for $100 million, and continue to look for buyers for its other 16 stations.

The deals are expected to close by the second quarter of next year.