According to a news release issued by both LIN Media (the "parent company" of WALA-TV and WFNA-TV) and Media General (the "parent company" of WKRG-TV) this past Wednesday, August 20th, Media General had planned on selling WALA-TV to the Meredith Corporation if their (Media General's) merger with LIN Media were to come to pass due to the Federal Communications Commission's rule against the idea of one person or company owning more than one TV station in the same TV market among the TV stations they would consider to be the market's four most popular TV stations based on recent surveys of their audiences (the other two TV stations among the "top four" for the Mobile, Alabama-Pensacola, Florida TV market are WEAR-TV and WPMI-TV*).
*the Sinclair Broadcast Group managed to keep ownership of both WEAR-TV and WPMI-TV in spite of the rule by transferring the broadcast license for WPMI-TV to a separate company (Deerfield Media) while keeping ownership of only WPMI-TV's broadcast assets after purchasing them from Newport Television).
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