The Summer of TV station sales has moved into the Fall.
News-Press & Gazette Company announced the purchase of KION-TV (CBS) and KMUV-LP (Telemundo), both Monterey, CA, and KKFX-CA (FOX), San Luis Obispo, CA (collectively, the “Stations”), from Cowles California Media Company subject to approvals from the Federal Communications Commission.
In addition, NPGCo and Cowles Media have, contemporaneously, entered into a shared services arrangement relating to the Cowles Media-owned KCOY-TV (CBS) in Santa Maria, California. Under this arrangement, NPGCo will provide operating assistance to the station, including news, back office, engineering, and sales support services, while general management, programming and sales management functions at KCOY-TV will continue to be managed by Cowles Media.
These transactions are expected to close in the fourth quarter of 2013.