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On May 8, 2017, Sinclair Broadcast Group announced that it would acquire Tribune Media for .9 billion, plus the assumption of .7 billion in debt held by Tribune.
If the deal receives regulatory approval by the FCC and the U. Department of Justice's Antitrust Division, WREG would gain new sister stations in adjacent markets, including ABC affiliate KATV in Little Rock, and the Nashville virtual triopoly of Fox affiliate WZTV, CW affiliate WNAB and My Network TV affiliate WUXP-TV.
WREC-TV's original studios were located inside the Peabody Hotel in downtown Memphis.
For its first six years, WREC-TV was the only locally owned station in Memphis (WHBQ-TV was owned by General Tire and NBC affiliate WMC-TV was owned by Scripps-Howard).
The station had long since outgrown the Peabody Hotel, and management felt that building a new studio near the Mississippi would be appropriate since Memphis has long been identified with the river.
WREG maintains studios located at Channel 3 Drive (off of I-55) near the Mississippi River on the west side of Memphis, and its transmitter is located between I-40 and Whitten Road, approximately 5 miles (8 km) southeast of Bartlett.
WREG-TV, virtual channel 3 (UHF digital channel 28), is a CBS-affiliated television station licensed to Memphis, Tennessee, United States.
Its third digital subchannel serves as an owned-and-operated station of the classic TV network Antenna TV.
The call letters stood for Wooten's radio store, the ompany, where he had founded WREC radio in 1922.
It took the CBS affiliation from WHBQ-TV (channel 13, which had been a CBS affiliate since it signed on in September 1953), as WREC-AM had been a CBS Radio affiliate since 1929.
Since that time, WREG has gradually built on its wins in the all-important 10 p.m.