Business

Aug 2, 2013 11:30 PM by Juice Godfrey

News-Press & Gazette Co. selling KJCT-TV

GRAND JUNCTION, Colo. (AP) - News-Press & Gazette Co. is selling KJCT-TV in Grand Junction.

The company said Friday it has agreed to sell KJCT and associated low-power television stations that broadcast ABC, CW, Telemundo and local programming for $3 million to Excalibur Broadcasting LLC, which is run by a former regional vice president of Gray Television Inc.

Once the sale is complete, Gray Television has agreed to provide back office, engineering and sales support to Excalibur.

News-Press & Gazette Co., based in St. Joseph, Mo., says it plans to sell other assets of the television stations to Atlanta-based Gray for $9 million. Gray Television's other assets include KKCO-TV in Grand Junction.

The transactions are expected to close in the fourth quarter of 2013.

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