PxPixel
Morris Buying WWAY For $18.5M - Broadcasting & Cable

Morris Buying WWAY For $18.5M

Author:
Publish date:

It didn't take long for Raycom to find a buyer for its WWAY Wilmington, N.C.

Subject to FCC approval, Morris Multimedia will pay $18.5 million for the ABC affilliate in market 139, which Raycom bought as part of a $987 million deal for Liberty Corp.'s 15 TV stations.

The deal will give Morris five affilated TV stations, all in the south--Mississippi, Georgia and now North Carolina. Morris also owns 90 newspapers, shoppers, and targeted publications.

When the Liberty deal closed last month, Raycom announced it would sell off a dozen of its stations, including two it had picked up in the deal.

WWAY is the first of those stations to be sold, and one where it had an overlap with its existing WECT Wilmington. Raycom would have had to either sell one of the stations or get a waiver from the FCC, since the market is not large enough for one company to own two stations there.

Still on the block are another former Liberty station, KGBT Harlingen/McAllen/Brownsville, Tex., as well as WFXL Albany, Ga.; KASA Albuquerque/Santa Fe, N.M.; KXRM/KXTU  Colorado Springs, Colo.; WACH Columbia, S.C.; KTVO Ottumwa, Iowa/Kirksville, Mo.;WLUC Marquette, Mich.; WSTM/WSTQ Syracuse, N.Y.; WNWO Toledo,Ohio; WPBN/WTOM Traverse City/Cadillac,Mich.; KWWL Waterloo/Cedar Rapids/Iowa City/Dubuque, Iowa.

Raycom has said it expects to get about $600 million for the lot.--Alison Romano contributed to this report.

Related