The buyer is headed by Michael Young, a one-time member of the municipal assembly. Terms were not disclosed.
Newport Television is spinning off KTVF Fairbanks, Alaska, to Chena Broadcasting, a local group headed by Michael Young, according to Kalil & Co., a broker that represented Newport in the transaction. Young is a former member of Fairbanks municipal assembly.
The price was not disclosed.
Newport Television ranks No. 22 on TVNewsCheck‘s list of the Top 30 Station Groups, operating 23 station in 22 markets and reaching 8.8% of TV homes.
John Tupper of Kepper, Tupper and Company represented Chena.