Parent Company of WFIE Announces Merger - Tri-State News, Weather & Sports

Parent Company of WFIE Announces Merger

Web Producer: Jason Bailey

The parent company of WFIE has agreed to merge with an Alabama-based media organization.

Liberty Corporation, which owns WFIE as well as WAVE, a Louisville, Kentucky station, announced Thursday that its 15 stations and cable sales operations will be merged with Raycom Media Incorporated.

Raycom is associated with Retirement Systems of Alabama, which manages financial resources in excess of $16-billion.

According to Hayne Hipp, Chairman and Chief Executive Officer of Liberty, "Broadcasting has been essential to the success of Liberty Corporation for 70-years of the century we've been in business. The transaction we announce today [Thursday] is testimony to the exemplary reputation we've built as both a standard-bearer in the industry and a champion of each community in which we serve."

Hipp continues, "In Raycom, we have found a company whose stellar record of public service and commitment to local news and information mirror our own."

Liberty officials say the ownership change will ensure the continued growth and success of operations.

Raycom's television stations cover 10.2-percent of television households in the United States.

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