Liberty auctions off rights to TV station for $23.1 million

Liberty University gained $23.1 million after auctioning off the spectrum usage rights for WFFP-TV, a television station purchased by the university in 2013.

President Jerry Falwell told The News & Advance in an article published in Tuesday’s paper that Liberty purchased the television station for $1 million after the station went bankrupt in 2013. The station was used to air Liberty athletic events and Convocations.

Liberty received the auction proceeds late last week, Falwell said.

The spectrum is how wireless communications are able to travel through the air via radio frequencies. This includes television, radio, and mobile data. Though the rights have been sold, WFFP can remain on the air if they partner with another broadcast station to air their content.

Read the full story from The News & Advance.