NEW YORK -- John Blair & Co., the recently acquired media subsidiary of Reliance Group Holdings Inc., Tuesday announced the sale of three television stations to Gillett Broadcasting of California Inc. for $86 million in cash.
The company said the non-Spanish language stations are KSBW Channel 8 in Salinas-San Jose, Calif.; KSBY Channel 6 in Santa Barbara-San Luis Obispo, Calif. and KOKH Channel 25 in Oklahoma City.
The two California stations are NBC affiliates and KOKH is an independent UHF station.
'The sale of these three stations is in keeping with the company's strategy to concentrate on our Spanish-language television business, television and radio representation, and on production and syndication of high quality television programming,' Henry R. Silverman, chairman of John Blair, said in a statement.
Completion of the transaction is subject to approval by the Federal Communications Commission. The companies expect the sale to be completed by the end of the year.
Gillett Broadcasting is a wholly owned subsidiary of Gillett Holdings Inc. of Nashville, Tenn.