KGWN TV, KSTF sold again
Gray Television Inc., which owns KOLN/KGIN in Lincoln, said Monday that it reached a deal to buy Yellowstone Television LLC, which owns several TV stations including KGWN TV in Cheyenne, which extends into Scottsbluff as KSTF TV
Under the agreement, Gray bought a 99 percent non-voting interest in Yellowstone for $23 million in cash and started operating the Yellowstone stations under a local marketing agreement.
The stations are: KGNS-TV in the Laredo, Texas, market and KGWN-TV in the Cheyenne, Wyo.-Scottsbluff, Neb., market. KGWN-TV extends throughout the market via KSTF(TV) in Scottsbluff, and K19FX in Laramie, Wyo. In addition, KCHY-LP, which is the NBC affiliate for the Cheyenne-Scottsbluff market, will now integrate its operations with KGWN-TV. Also being acquired is KCWY-TV in the Casper, Wyo., market.
If it receives regulatory and other approvals, Gray will acquire voting control of Yellowstone in a follow-up deal.
Atlanta-based Gray owns and operates TV stations in 31 markets, including several others in Nebraska.
The purchase comes less than a week after Duhammel broadcasting sold KOTA-TV in Rapid City and its affiliated stations in Nebraska and Wyoming, including KDUH TV in Scottsbluff, to Schurz Communications Inc.
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