No joke as Hoak drives MGs off the lot


Two Media General television stations are now officially in the hands of Hoak Media. The sale sending NBC KALB-TV Alexandria LA and ABC WMBB-TV Panama City FL is officially in the books. The price tag was $60M. Hoak also receives a non-full-power CBS outlet in Alexandria. MG is using most of the proceeds from the sale of these and three other television stations mainly to pay down debt. The sale of  the last of the five, WCWJ-TV Jacksonville FL is said to be in progress.