REVIEWER: Chris Dautel, director of financial planning and analysis for Raycom Media.

BACKGROUND: Headquartered in Mont-gomery, Alabama, Raycom Media, Inc. stretches from Syracuse, New York, to Honolulu, Hawaii, with businesses in 21 states and more than 2,800 employees. The television stations cover 10.2% of the U.S. television households. Raycom Media businesses go beyond just broadcasting and include event management, distribution of syndicated television programming, information systems support, and design and hosting of Alabama's Robert Trent Jones Golf Trail Web site.

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