CBS Corp. has sold its last remaining small-market station: It dealt WFRV-TV in Green Bay, Wis., and its satellite station WJMN-TV to Liberty Media Corp. for $170 million in cash and 7.6 million shares of CBS stock. This comes after CBS sold a bunch of medium-market stations to Ceberus Capital Management, including KUTV in Salt Lake City and KEYE in Austin, TX last week.
Liberty Media also announced that they have purchased the Atlanta Braves from TimeWarner, and also purchased three regional sports channels from News Corp. - FSN's Pittsburgh, Rocky Mountain, and Northwest channels, as well as DirectTV.
The CBS affiliation will stay with WFRV. When CBS bought the station in 1991, the station was an ABC affiliate owned by Midwest Communications. The station was a NBC affiliate from 1959-83, and was with ABC from 1955-59.