Harris to sell its broadcast business

Briefing by Inside Radio 

Harris wants out of the broadcast business. The company announced this morning that it plans to sell off its struggling division that makes automation systems and other tech equipment for radio and TV stations. CEO William Brown says “the business is no longer aligned with the company’s long-term strategy.” The company began reviewing strategic options for the division last year as it wrote down the value of the business by $407 million. The Melbourne-based company gets much of its revenue from military contracts.