Gray Television has agreed to acquire KTVH-KMTF Helena and KBGF Great Falls for $2 million. Intermountain West Communications is the seller for KTVH and KBFG, both NBC affiliates. Rocky Mountain Broadcasting Company is the seller for KMTF, the CW affiliate in Helena, subject to receipt of a failing station waiver from the FCC.
On June 1, Gray will begin operating the NBC stations pursuant to a local marketing agreement.
"Selling KTVH and KBGF is a bittersweet moment for IMW,” said Lisa Howfield, president and COO of Intermountain West. “We respect and value those stations tremendously. On the other hand, we are excited that they will be joining a group of broadcasters who share our commitment to localism."
The transactions are subject to regulatory approval and Gray anticipates them closing in the second or third quarter.
"Gray is thrilled to again expand our portfolio of leading television stations," said Kevin Latek, Gray senior VP for business affairs. "KTVH in particular complements Gray's announced acquisition strategy well, because this number-one ranked station in a state capital is intimately involved with the local community and in fact broadcasts from a studio located on the campus of Carroll College in downtown Helena."
Kalil & Company represented the sellers.
Jim Rogers owns Intermountain West. It has sold KYMA Yuma (Ariz.) and Idaho's KPVI Pocatello and KXTF Twin Falls of late, and in November agreed to sell the non-license assets of KRNV Reno to Sinclair.
It continues to own KSNV Las Vegas.