News-Press & Gazette Co. (NPG) has agreed to acquire KION-KMUV Monterey (Calif.), a CBS-Telemundo pair, along with Fox affiliate KKFX San Luis Obispo (Calif.) Cowles California Media Co. is the seller.
Terms of the deal were not disclosed. The transactions are subject to FCC approval.
NPG and Cowles California Media have also agreed to a shared services arrangement for Cowles' KCOY Santa Maria (Calif.), a CBS affiliate. NPG will provide news, back office, engineering and sales support for the station.
Missouri-based NPG has been strengthening its California portfolio. Late last year, NPG acquired KEYT Santa Barbara from Smith Media.