Media General took the penultimate step in its portfolio pruning program designed to bring home between $100M-$105M in cash. The sale of WNEG-TV Toccoa GA to the University of Georgia Research Foundation is the station, and now we know how far it will go toward MG’s spin-off target value. The answer is: not all that much. UGARF will pay $1,437,500 in cash for the station (and will also pick up any remaining DTV upgrade costs). MG had been using the station to extend the range of CBS WSPA-TV in the Greenville-Spartanburg SC DMA. The buyer intends to run it as a commercial enterprise. The last station on the shelf for MG is WCWJ-TV Jacksonville FL.
