The sale of Local TV could bring in anywhere from $1.585 billion to $2.718 billion, depending on how the company is valued, J. Davis Hebert, senior analyst in Wells Fargo Securities' high-yield research division, writes in a report. Meanwhile, estimates for the sale of Allbritton Communications, whose flagship is WJLA in Washington, D.C., range from $595 million to $1.092 billion, according to Hebert.

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