Media General Sells Three CBS Stations

Posted Wednesday, August 2, 2006 12:00 am

By: E&P Staff Media General sold off three of its television stations the company said on Tuesday.

WIAT in Birmingham, Ala., and KIMT in Mason City, Iowa have been acquired by New Vision Television for $35 million. Morris Multimedia has purchased WDEF in Chattanooga, Tenn., for $22 million.

All three stations are CBS affiliates. Media General announced on April 6 it would divest four CBS stations including KWCH in Wichita, Kan., as part of its acquisition of four NBC stations. Total proceeds from the sale are about $130 million. Schurz Communications bought KWCH.

?Our four new NBC stations, which became part of Media General at the beginning of the third quarter, will contribute to meaningful broadcast division profit and segment cash flow growth in the third quarter,? Marshall Morton, president and CEO, said in a statement. ?The contribution of the new stations will reflect strong political advertising revenues and the overall strength of the stations in their respective markets.?

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Media General Sells Three CBS Stations

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