Young Sells Rockford Station to Mission Broadcasting

Oct 5, 2004  •  Post A Comment

Young Broadcasting on Tuesday said it had struck a deal to sell its ABC affiliate in Rockford, Ill., to Mission Broadcasting for $20.75 million.

The sale ends 16 years of Young ownership of WTVO-TV. Proceeds will go toward financing Young’s ongoing television activities, the company said.

The transaction is expected to close by the middle of next year, pending federal approval. However, Mission entered into a local service agreement with Nexstar Broadcasting to manage the station beginning Nov. 1.

Following the close of the deal, Young will own 10 stations, including the nation’s largest independent station, KRON-TV in San Francisco.