NEWS-PRESS & GAZETTE CO. PURCHASES TELEVISION STATIONS IN MONTEREY AND SAN LUIS OBISPO, CALIFORNIA
Monterey, CA – September 23, 2013.
News-Press & Gazette Company (“NPGCo”) today 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 (“Cowles Media”), 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.
News-Press & Gazette Company:
NPGCo is a privately held and family-owned company headquartered in St. Joseph, Missouri. In addition to owning one of America’s oldest newspapers, NPGCo operates television stations in 10 mid-western and western markets.
Cowles California Media Company:
Cowles California Media Company is a private, family-owned subsidiary of The Cowles Company, based in Spokane, Washington. The Cowles Company owns and operates The Spokane Spokesman-Review as well as television stations in Spokane, Yakima, and Kennewick, Washington.
SOURCE: The companies
NPGCo: John Kueneke, President, NPG Broadcasting, 314-727-6353.
Cowles California Media Company: Paul Dughi, President, Cowles California Media Company, 831-784-6500