The station is owned by the Tribune Broadcasting subsidiary of the Tribune Media Company.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.For more than two decades, WREG has been in a Nielsen ratings war for first place with longtime powerhouse WMC-TV.WREG did not actually win a ratings period, however, until February 2006 after it paired former WHBQ anchor Claudia Barr and former WMC morning anchor Richard Ransom as its main evening anchors.However, in 1963, Wooten sold WREC-AM-FM-TV to Cowles Communications, earning a handsome return on his original investment of 40 years earlier.In turn, Cowles sold WREC-TV to The New York Times Company in 1971.The call letters stood for Wooten's radio store, the ompany, where he had founded WREC radio in 1922.
Its third digital subchannel serves as an owned-and-operated station of the classic TV network Antenna TV.
Over the years, WREG has produced many local programs, such as News Channel 3 Knowledge Bowl and Mid-South Outdoors (later known as News Channel 3 Outdoors).
The station also currently produces Live at 9, a weekday morning program that maintains a talk show-style format and the public affairs program Informed Sources, which airs on Saturday evenings and sometimes Sunday nights and discusses current local issues.
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.
On March 2, 1975, channel 3 signed off from the Peabody Hotel for the last time as WREC-TV, and signed back on 45 minutes later, re-branded as WREG-TV, with its first transmission from the new studios on Channel 3 Drive.