Beginning in 1980, Houston-based insurer American General–which owned the WLAC stations until 1975–began purchasing blocks of NLT stock, eventually becoming NLT's largest shareholder and setting the stage for an outright takeover. However, American General was not interested in NLT's non-insurance businesses. It opted to sell off the broadcasting interests, the Grand Ole Opry, the then-decrepit Ryman Auditorium, and Opryland USA. Gillett Broadcasting (operated by George N. Gillett Jr.) bought WSM-TV on November 3, 1981, and changed the station's callsign to WSMV on the same day (officially modified to WSMV-TV on July 15, 1982). The new callsign allowed channel 4 to continue trading on the well-known WSM calls while at the same time separating it from its former radio sisters. The change was brought on due to an FCC rule in place at that time forbidding TV and radio stations in the same city but with different owners from sharing the same call letters. However, channel 4 would later engage in news department cross promotions with WSM-AM-FM.