Harris Corporation’s broadcast equipment unit is for sale, the company...
Harris Corporation’s broadcast equipment unit is for sale, the company said. Over time the Broadcast Communications Division has become less aligned with Harris’s overall strategy, said Harris Morris, the division’s CEO, in a letter shared with press. “Operating independently or…
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as part of a broadcast or media-focused enterprise will provide us with strategic investment, increased competitive flexibility and customer focus,” he said. Until a buyer can be found, the unit will continue to operate under Harris’s corporate umbrella, but Harris will begin reporting its results as discontinued operations, it said. Harris plans to use the proceeds from selling the unit to pay cash to shareholders and invest in its core business, said William Brown, its CEO.