The sale, which is pending Federal Communications Commission approval, comes a year after the Missouri-based News-Press & Gazette Co. finalized its purchase of KEYT from Smith Media, which owns WFFF-TV in Vermont and WKTV in New York.
NPG announced its intent to purchase San Luis Obispo-based KKFX-CA (FOX), KION-TV (CBS) and KMUV-LP (Telemundo) — both based in Monterey — from Cowles California Media Company, a family owned subsidiary of The Cowles Co. based in Spokane, Wash.
As part of the deal, the two media companies will enter into a shared-services agreement with the Cowles Media-owned KCOY-TV, the Central Coast’s FOX-affiliate station.
NPG will provide operating assistance to the station, including news, back office, engineering and sales support services, while Cowles Media will continue to maintain control over general management, programming and sales management, according to NPG.
Officials said the transactions were expected to close in the fourth quarter of 2013.
KEYT, the Central Coast’s ABC affiliate station, was purchased late last year in a $14.25 million deal, which also included NPG picking up a related digital television property, MyRTV, in the hopes of growing the Santa Barbara market — the company’s second foray into the California market that also includes Palm Springs.
NPG, which has a news presence in 10 markets throughout the country, carried over all KEYT staff and management from Smith Media except for the general manager position, which was taken over by Mark Danielson.
Since that time, Jim Lemon was hired on as the station’s news director, and the company has invested more than $1 million in new equipment and rebranding efforts.
KEYT also reopened a satellite office in Santa Maria, switched to high-definition news production, hired several new reporters, installed a new digital transmitter in San Luis Obsipo, and launched a new website.
The Cowles Company owns and operates The Spokane Spokesman-Review newspaper as well as television stations in Spokane, Yakima and Kennewick, Wash.
Details concerning how the acquisition would affect news operations at the involved stations were not immediately available.