New Vision Sells Santa Barbara Station

Nov 2, 2004  •  Post A Comment

New Vision Group, a portfolio company owned by Washington-based private-equity firm Arlington Capital Partners, on Tuesday said it has reached a definitive agreement with Evening Post Publishing Co. to sell its NBC affiliate in Santa Barbara, Calif., for $67.75 million.

The sale of KSBY-TV is expected to close in the 2005 first quarter and will bring to three the number of stations New Vision owns.

The sale comes after New Vision staged a turnaround at the station, improving profitability by more than 50 percent.

Evening Post is a privately owned company that owns newspapers in North Carolina, South Carolina, Texas and Argentina and owns 11 network-affiliated television stations.