Atlanta company buys local CBS affiliate Written Nov. 5, 2013 CHEYENNE - A television broadcast company based in Atlanta, Ga., is the new owner of KGWN-TV, the CBS affiliate in Cheyenne. Gray Television Inc. announced Monday that it entered into an agreement to buy Yellowstone Television LLC. Yellowstone Television owned the following stations: KGWN-TV in the Cheyenne and Scottsbluff, Neb., market. Its channels are affiliated with CBS and the CW. KGWN-TV extends throughout the market via KSTF-TV in Scottsbluff and K19FX in Laramie. KCWY-TV in the Casper market, with its primary channel affiliated with NBC. KCHY-LP, the NBC affiliate for the Cheyenne- Scottsbluff market. KGNS-TV in Laredo, Texas. Kevin Lateck, senior vice president for business affairs at Gray Television, said the $23 million deal was reached Friday. Gray Television will invest in high definition for the stations, he said Tuesday. "Reporters will have newer technology," he said. The company will make other improvements to better cover live breaking news, he added. "We are really, really excited to own CBS 5 in Cheyenne and the NBC station in Casper," he said. Gray bought a 99 percent nonvoting interest in Yellowstone Television LLC for $23 million. The company will acquire voting control of Yellowstone Television Inc. in a subsequent transaction, according to a news release. Gray operates television stations in 31 markets and broadcasts 46 channels affiliated with one of the "big four" networks, which are ABC, CBS, NBC and Fox. It also has 42 additional channels of programming and other stations, according to a news release.
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