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Media News Group buys KTVA-TV for $2.1 million

Posted: Wednesday, March 29, 2000

ANCHORAGE (AP) -- MediaNews Group, Inc., the nation's seventh largest newspaper company, has bought Anchorage's No. 2 television station for $2.1 million, the company said Tuesday.

William Dean Singleton, MediaNews Group CEO, said the sale price reflected ''substantial debt'' owed by the station.

KTVA owner Robert Gottstein approached MediaGroup in December about buying his shares. He owned 42 percent of the station.

Gottstein bought out Alaska broadcasting pioneer Augie Hiebert's stake in Northern Television Inc. in early 1997, and then invested millions of dollars in an unsuccessful attempt to close the news ratings gap between KTVA and longtime market leader KTUU-TV.

MediaNews Group owns Fairbanks Publishing Co., which publishes the Fairbanks Daily News-Miner and the Kodiak Daily Mirror. It publishes 51 daily newspapers and 127 non-daily publications in 13 states. Its flagship paper is The Denver Post.



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