TV station KRCG to be sold
Monday, March 4, 2013
KRCG-TV 13 will be sold to Sinclair Broadcast Group as part of a $370 million package deal, pending regulatory approval.
Sinclair has agreed to purchase the local CBS affiliate and 17 other television stations owned by Barrington Broadcasting Group, based in suburban Chicago.
Sinclair has also entered into an agreement to operate or provide sales services to another six stations. The 24 stations are located in 15 markets and reach 3.4 percent of the U.S. TV households.
KRCG was founded in 1955 by Betty Weldon, who named it KRCG in honor of her father, Robert C. Goshorn. Weldon also owned and published the Jefferson City News Tribune until her death in 2007.
In 1967, KRCG was sold to Mid-America Television Company, a subsidiary of Kansas City Southern Industries, and in 1985 to Price Communications. Three years later, it was sold to Mel Wheeler Inc., which sold to Barrington in 2005.
KRCG’s CEO and General Manager Jon Van Ness declined comment about the sale on Monday.
More details in Tuesday's News Tribune.