News-Press & Gazette (NPG) has agreed to sell KJCT and associated low power stations in Grand Junction (Colo.) to a subsidiary of Excalibur for $3 million.
Gray Television has agreed to provide back office, engineering, and sales support services to Excalibur. Gray owns market leader KKCO in Grand Junction.
In a separate transaction, NPG "will sell certain other assets of these television stations to Gray for $9 million," said NPG in a statement. Those include equipment and other assets of the station that don't include licenses.
Both deals are subject to regulatory approval and are expected to close in the fourth quarter of 2013.
KJCT is the No. 3 station in revenue in DMA No. 185, according to BIA/Kelsey. It is an ABC affiliate with Telemundo and The CW on its subchannels.
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