If Media General can't modify its debt covenants, bankruptcy is a possibility. Could asset sales, including WJAR, which is geographically outside MG's core (MG's corporate site bizarrely couples its Providence and Columbus, OH NBC affiliates - both former Outlet/NBC O&O stations - as the Ohio-Rhode Island market!) be in the offing?
http://www.tvnewscheck.com/article/2012/01/26/57063/covenant-crisis-looming-at-media-general
http://www.tvnewscheck.com/article/2012/01/26/57063/covenant-crisis-looming-at-media-general