By Alabama Public Radio
Montgomery, AL – W-S-F-A Channel 12, the N-B-C affiliate in Montgomery, has a new hometown owner. Raycom Media Incorporated is based there and just completed purchasing that television station and 14 others from Liberty Corporation. The deal is worth 987 million dollars. Raycom now has 52 network-affiliated T-V stations. It's an employee-owned company that agreed to purchase the stations from Liberty last August. The Retirement Systems of Alabama gave Raycom the necessary outside financing to make the transaction. In return, the R-S-A will receive free airtime.