Media General to Sell Five Stations

Media General announced Wednesday (June 25), it has agreed to sell WNEG, the CBS affiliate serving the Greenville-Spartanburg, S.C.-Asheville, N.C. to the University of Georgia Research Foundation, for undisclosed terms.

With the sale, Media General has agreements to sell four of the five stations it put on the block in November 2007. The company said that the sale of the fifth station, WCWJ, the CW affiliate, in Jacksonville, Fla., is progressing.

When the sale of all five stations is completed, Media General, which owns newspapers and TV stations, expects to bring in between $100 to $105 million.

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