Gray Television has announced an agreement to buy KEVN, the Rapid City, SD, FOX affiliate, from Mission TV, LLC for $7.75 million in cash.
“While the decision to sell is a difficult one,” William Reyner, president of Mission TV said in a statement. “I am confident that Gray Television’s resources, fine leadership and supportive management team will provide KEVN and its fine employees with tremendous opportunities to build upon their successes and better serve our loyal viewers.”
The deal, which is pending FCC approval, also includes KEVN’s satellite station in Lead, SD, KIVV.
“We expect KEVN-TV will integrate well with our recently announced proposed acquisition of the ABC affiliate in Sioux Falls, South Dakota, and the NBC affiliates in the Fargo and the Minot-Bismarck, North Dakota, markets from Hoak Media,” said Kevin Latek, Gray’s SVP for Business Affairs.
Mission TV is not affiliated with Mission Broadcasting, Inc.