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Syndication is a generic word for outsourcing something. In commercial real estate financings, as well as investment banking, syndication usually means that there is a lead underwriter of a piece of the capital structure who does the "heavy lifting" of determining the value of the asset being financed...What is first run syndication?
First-run syndication refers to programming that is broadcast in the United States for the first time as a syndicated show. Some programs, such as Jeopardy! and Punky Brewster, aired on networks and via first-run syndication at different points during their runs.