Morris Multimedia will have a new market to call its largest, and Media General will have one station off the shelf once the sale of ABC WTVQ-FM Lexington KY closes later this year. Charles H. Morris, Chairman/CEO of Morris, said, "The acquisition represents another important strategic fit for our broadcast group led by Dean Hinson, its president. Lexington will be our largest broadcast market and features strengths that we consider crucial to long-term success. Consistent with our recent station acquisitions, WTVQ is a superior television station with a strong local presence, talented employees and a quality news product." Morris has TV properties in Tennessee, Mississippi, Georgia and North Carolina.
For its part, Media General President/CEO Marshall N. Morton, was pleased to get the spin-off project under way, and said that the valuation of this deal was within expectations. He did not elaborate, however, on just what the value was. Still on the shelf: WCWJ-TV Jacksonville FL (CW); WMBB-TV Panama City FL (ABC); KALB-TV/NALB Alexandria LA (NBC/CBS); and WNEG-TV Toccoa GA (Indy, satellite of WSPA-TV Spartanburg SC).
