WMYT-TV is owned by Nexstar Media Group alongside Belmont, North Carolina–licensed Fox affiliate WJZY (channel 46).

Both outlets share studios on Performance Road (along I-85) in unincorporated northwestern Mecklenburg County (with a Charlotte mailing address); through a channel sharing agreement, the stations transmit using WJZY's spectrum from an antenna near Dallas, North Carolina, along the Catawba River.

From 1974 to 1978, the UHF channel 55 allocation in Rock Hill belonged to W55AA, a low-powered repeater of PBS member network South Carolina Educational Television.

Capitol Broadcasting Company, then owner of WJZY, operated the station under a local marketing agreement.

WFVT became a charter affiliate of The WB Television Network when it debuted on January 11, 1995, and changed its on-air branding from "TV55" to "WB55" shortly afterward.

The station ran ads in local newspapers that featured Bugs Bunny (though not the network's mascot, often used in Kids' WB marketing) pulling off a pair of Mickey Mouse ears and suggesting that viewers should re-program their televisions and VCRs lest they think "some rodent still lives there."

On August 5, 1999, the Federal Communications Commission (FCC) reversed its longstanding regulations against permitting common ownership of two full-power stations in the same television market;[3] Capitol Broadcasting bought channel 55 outright the following year, creating a duopoly with WJZY.

[5] Sister station WJZY had already decided to join The CW, a network created out of CBS Corporation and Time Warner's decision to shut down UPN and The WB, effective that September.

[1] WMYT officially affiliated with MyNetworkTV upon the network's debut on September 5, 2006, branding on-air as "MyTV12," in reference to its location on most area cable providers.

[12][13] As MyNetworkTV was owned by Fox's then-parent company News Corporation, the acquisition made WMYT the first owned-and-operated station of a commercial broadcast network in the Charlotte market.

On April 9, 2012, WMYT-TV began broadcasting a half-hour 10 p.m. newscast produced by CBS affiliate WBTV (channel 3).

This program originally ran on sister station WJZY from September 2003 to April 8, 2012 (with a simulcast on both stations from April 9 to 15, 2012), although low ratings for the newscast on that station—which placed a distant third in that timeslot behind the WSOC-produced prime time newscast on WAXN-TV and WCCB's in-house 10 p.m. newscast—prompted its move to WMYT, citing a more suitable audience on channel 55.

[25] In August 2011, the station downgraded its HD signal from 1080i to 720p, the preferred resolution format to which MyNetworkTV transmits its programming.