In Depth
Media General Explores Sale of 5 Stations
Media General is exploring the possible sale of five TV stations in midsized and smaller Southeastern markets.
Marshall N. Morton, president and CEO of the Richmond, Va.,-based multimedia group, said in Monday’s announcement that “any sales would enable Media General to use the proceeds to reduce debt and strengthen our balance sheet. Divestitures also would help position our broadcast division to pursue future growth opportunities.”
Media General’s properties include newspapers and 23 TV stations.
The stations being considered for sale are CW affiliate WCWJ-TV in Jacksonville, Fla.; ABC affiliate WTVQ-TV in Lexington, Ky.; ABC affiliate WMBB in Panama City, Fla.; NBC- and CBS-affiliated KALB-TV/NALB-TV in Alexandria, La.; and WNEG-TV in Toccoa, Ga., an independent satellite station for WSPA-TV in Spartanburg, S.C.
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