Chase Broadcasting merged with Renaissance Broadcasting in 1992. Due to Federal Communications Commission (FCC) rules which limited the number of stations a company could own, Renaissance was forced to put WPTY and several other stations up for sale. WPTY was purchased by Clear Channel Communications (now iHeartMedia) later that year. In 1993, Clear Channel entered into a local marketing agreement (LMA) with WLMT's then-owner MT Communications, allowing the once rivals to pool resources and programming. In 1995, WPTY was set to be displaced as Memphis' Fox outlet after Fox unexpectedly bought longtime ABC affiliate WHBQ-TV; the purchase was finalized on July 5, 1995. However, News Corporation had to run WHBQ as an ABC affiliate for over five months after the sale was completed. ABC ultimately chose to affiliate with WPTY; the two stations switched affiliations on December 1, 1995. The station gradually took on the look of a traditional network affiliate, running mostly first run syndicated shows and a few sitcoms while WLMT ran cartoons, movies, sitcoms and some reality/talk shows. Shortly after joining ABC, WPTY picked up a secondary affiliation with The WB, airing the network's schedule in late nights. This was because Memphis, despite its relatively large size, didn't have enough stations for a separate WB affiliate. In 2001, Clear Channel bought WLMT outright from Max Media, creating the first television duopoly in the Memphis market. Clear Channel moved WB programming to WLMT in 2003. On April 20, 2007, Clear Channel entered into an agreement to sell its entire television station group to Newport Television, a company controlled by private equity firm Providence Equity Partners. Newport announced on July 19, 2012, that it would sell 12 of its stations, including WPTY and WLMT, to Nexstar Broadcasting Group. The transaction was finalized on December 3. On June 1, 2013, WPTY, WLMT and WJKT's operations were moved to a converted former MCI call center on the city's northeast side. Nexstar invested $5 million in constructing the new facilities, which included high definition cameras and other new studio equipment, a new set repurposed from sister station KLRT-TV in Little Rock (which consolidated its news department with KARK-TV earlier that year after Nexstar purchased the station through Mission Broadcasting as a result of the Newport deal), equipment to allow reporters from its new sister station KARK to appear on-air, and a shift away from automation for the production of its newscasts (the station formerly used Ross Overdrive for newscast automation, but continues to use other Ross products in the new facilities).