December 1, 2007 in Business

Cowles Co. buying California stations

The Spokesman-Review
 

Spokane-based Cowles Co. is purchasing five television stations in California that are among those being sold by Clear Channel in its deal with Newport Television.

The Cowles Co. signed an agreement with Newport to buy television stations serving the Salinas/Monterey and Santa Maria/Santa Barbara markets for a reported $41 million.

Cowles will acquire KION television, the CBS affiliate in Salinas/Monterey, which also carries the CW network on a secondary digital channel, KMUV-LP, a Telemundo affiliate; and a management agreement operating KCBA, the Fox affiliate in the market.

Cowles also will acquire KCOY television, the CBS affiliate serving the market covering the Santa Maria, Santa Barbara and San Luis Obispo area, and KKFX, the Fox affiliate in the market.

Cowles Co. owns several stations, including KHQ of Spokane, KNDO of Yakima, and KNDU of Richland, along with The Spokesman-Review newspaper.

From staff reports

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