Journal Broadcast Group, Inc., a subsidiary of Journal Communications, Inc. (NYSE: JRN), today agreed to the sale of stations KMIR-TV (an NBC affiliate) and My 13 KPSE TV (a MyNetwork affiliate) in Palm Springs, Calif., to OTA Broadcasting (PSP), LLC, an affiliate of Virginia-based OTA Broadcasting, LLC. Terms of the transaction were not disclosed.
"We sincerely appreciate the dedication of our talented team in Palm Springs and their continued development of our television stations over a number of years," said Steven J. Smith, Chairman and CEO of Journal Communications.
"We are confident that OTA will do an excellent job of continuing to guide and build these important local brands in the Coachella Valley," Smith added.
"We are pleased to be adding these two stations to our growing roster of television stations," said Bill Tolpegin, CEO of OTA. "We look forward to serving the Palm Springs market, as well as welcoming the employees of KMIR and KPSE to the OTA family."
According to Nielsen Media Research, Palm Springs is the 148th largest television market in the United States and serves more than 154,000 television homes.
Media Venture Partners, LLC, represented the buyer and Kalil & Co., Inc., represented the seller. The transaction is subject to approval by the FCC.