USA Television Holdings is combining with Maxair Media to acquire KHSL-KNVN in Chico-Redding, Calif. USA Television is jointly owned by Bob Prather’s Heartland Media as well as MSouth Equity Partners; Maxair is owned by veteran broadcaster Dan Modisett.
KHSL is Chico’s CBS affiliate and also airs The CW on a multicast channel. KNVN is the NBC and Telemundo affiliate.
USA Television will acquire KHSL from GOCOM Media of Northern California, LLC and Maxair will acquire KNVN from K4 Media Holdings. Not all terms of the deals were shared, though Prather did say KHSL went for "approximately $40 million." The transactions are subject to FCC approval, which is expected to occur in fall 2015. When completed, USA Television and Maxair intend to enter into agreements with USA Television to provide certain non-programming, operational and technical services to Maxair while selling up to 15% of KNVN’s weekly advertising time.
Heartland owns stations in Eugene and Medford-Klamath Falls, Ore., Tupelo, Miss. and Utica, N.Y. Prather is the former president/COO of Gray Television. “Chico-Redding is a natural complement to our operations in the adjacent Eugene and Medford markets,” said Prather, USA Television CEO. “Under GOCOM’s stewardship, KHSL has thrived as Chico’s No. 1 rated news station and USA Television is anxious to enhance that leading local position even further.”
Modisett was the general manager at WLBT Jackson (Miss.) before retiring at the end of last year. He came out of retirement to be the interim general manager at WTVA Tupelo after Heartland Media acquired it. “Maxair is excited to enter the Chico-Redding market and looks forward to continuing to provide KNVN’s viewers with quality news, entertainment and community service,” said Modisett.