It is owned by MPS Media, which maintains a local marketing agreement (LMA) with New Age Media, owner of Bainbridge, Georgia–licensed Heroes & Icons affiliate WTLH (channel 49), for the provision of certain services.Sinclair Broadcast Group, owner of dual NBC/Fox affiliate WTWC-TV (channel 40), provides some engineering functions for both stations under a master service agreement and also programs WTLF.

Although that station had become Tallahassee's UPN affiliate a year earlier, its signal was not nearly strong enough to cover the entire market and WTLF was intended to make up for this shortfall in coverage.

Originally, this station was owned by KB Prime Media but operated by Pegasus Communications (owner of WFXU and WTLH at that time) under a local marketing agreement.

Pegasus declared bankruptcy in June 2004 over a dispute with DirecTV (then co-owned with Fox by News Corporation) over marketing of the direct broadcast satellite service to rural areas.

On January 24, 2006, CBS and Time Warner announced that they were "merging" their UPN and WB networks to create The CW effective September 2006.

The Pegasus station group was sold in August 2006 to private investment firm CP Media, LLC of Wilkes-Barre, Pennsylvania for $55.5 million.