WNEG-TV Toccoa, GA was a bit of a tough sell, since Media General was out to sell the station without a key asset – its CBS affiliation. A buyer has been found, though – and the University of Georgia plans to keep the station commercial.
The University of Georgia Research Foundation will be cutting the check for the school to acquire WNEG. The price wasn’t immediately disclosed. Media General says it expects to receive $100-105 million in all for the five stations it has been working to sell. Hoak Media bought three for $60 million and Morris $16.5 million for another. Besides WNEG, there’s still WCWJ-TV Jacksonville, FL to be sold.
“This provides a winning combination of strengthening local markets by emphasizing local interests, while offering a real-world opportunity for faculty and students to work in research, development and teaching in media. The revenue produced by this commercial venture will strengthen the operation of the television station while enhancing the research and outreach mission of the University,” said UGA President Michael Adams.
WNEG is losing its CBS affiliation because it has been operating as a satellite of Media General’s WSPA-TV, which will retain exclusive CBS rights in the Greenville-Spartanburg market. WNEG operates on analog Channel 32 and DTV Channel 24.