KRDO press release
April 11, 2006
(Colorado Springs) KRDO AND KJCT SOLD PENDING FCC APPROVAL
Pikes Peak Broadcasting Company, a locally-owned family business, today announced the pending sale of KRDO-TV13, Colorado Springs and KJCT-TV8, Grand Junction, and radio station KRDO-AM 1240, Colorado Springs to Missouri-based News-Press & Gazette Company. The television stations are affiliates of the ABC television network. The sale price was not disclosed.
Pikes Peak Broadcasting Chairman Harry W. Hoth noted, "After the sale, KRDO will continue to be operated by a family-owned company solidly committed to local news and dedicated to supporting the communities it serves. Mr. Hoth continued, "I’m proud of KRDO’s long history of involvement in community based programs. I’m especially proud of the support we’ve helped to generate within our communities for our men and women in the military. Hoth continued, "Our family is pleased that the Bradley family of News-Press & Gazette shares our view that local broadcasters have a unique opportunity to have a positive impact on their communities and an obligation to make the most of that opportunity."
News-Press & Gazette President David Bradley commented, "We are extremely excited to enter the Colorado Springs and Grand Junction markets. The Hoth family has built a fine broadcasting legacy that will be our foundation for the future. We intend to honor that legacy and we appreciate the trust placed in us by the Hoth family to continue serving the markets that they have served so well for so long."
News-Press & Gazette Company, a 4th-generation family-run business based in St.Joseph, Missouri, owns television stations in El Paso, Texas; Bend, Oregon; Palm Springs, California; Yuma, Arizona and Idaho Falls, Idaho along with two radio stations in the Palm Springs market. The company also publishes a number of daily and weekly newspapers in Missouri and Kansas and operates local cable television systems in Missouri, Arizona and California.
Under the terms of the agreement between the families, News-Press & Gazette will also assume an existing local management agreement for the operation of KSKX (105.5).
KRDO AM radio began broadcasting in 1947 and KRDO TV signed on in time to telecast the Baseball World Series in 1953. KJCT TV in Grand Junction signed on in 1979.
The transaction is awaiting approval of the Federal Communications Commission and is expected to be completed by mid-summer.
For More Information Contact: Patti L Hoth – (719) 632-1515