Media General, Inc has announced it’s exploring the sale of five of its television stations. They’re trying to reduce debt and strengthen their balance sheet as the company deals with decreased advertising sales in its newspaper business.
“Divestitures also would help position our Broadcast Division to pursue future growth opportunities,” stated Marshall N. Morton, president and chief executive officer, in a company press release.
The stations for sale (and their DMA’s) are:
WCWJ (CW), Jacksonville, Fla., 49
WTVQ (ABC), Lexington, Ky., 64
WMBB (ABC), Panama City, Fla., 154
KALB/NALB (NBC/CBS), Alexandria, La., 180
WNEG, Toccoa, Ga., an independent satellite station for WSPA in Spartanburg, S.C.
Media General publishes three metro papers, 22 community dailies and more than 150 weekly newspapers and other publications. It also owns 23 network-affiliated television stations and more than 75 online enterprises tied to its newspapers and TV stations.