Raleigh-based Capitol Broadcasting Company is planning to exit the Charlotte market after agreeing to sell its two TV stations there for an undisclosed sum.
Capitol announced Monday that it has agreed to sell WJZY-TV, a CW affiliate, and WMYT-TV, a My Network affiliate, to Fox Television Stations. Fox Television is owned and operated by News Corp.'s Fox Broadcasting.
"We have enjoyed being a part of the dynamic Charlotte market for 25 years," Capitol CEO Jim Goodmon said in a statement. "We are sorry to leave but excited about the future of the stations under the ownership of Fox Television Stations."
Goodmon couldn't immediately be reached for additional comment. Capitol's TV properties include two Triangle TV stations, CBS affiliate WRAL-TV and Fox affiliate WRAZ-TV, as well as WILM-TV in Wilmington. It also owns other media properties, the Durham Bulls minor league baseball team and the American Tobacco real estate development in Durham.
The Charlotte Observer reported that the Fox channel in Charlotte would move from WCCB-TV to either WJZY or WMYT after the deal is completed. The sale must be approved by the Federal Communications Commission.
"WJZY and WMYT are both well-run stations that provide us with a unique opportunity in a growing top-25 market," Fox Television CEO Jack Abernethy said in a statement.
WJZY was acquired by Capitol in November 1987, eight months after it was launched. Capitol purchased WMYT in 2000.