MONROE, La. (AP) – KNOE-TV, founded in 1953 by former Louisiana Gov. James A. Noe Sr. and still owned by his family, is being sold to Dallas based-Hoak Media Corp., Noe Corp. president George Noe said Wednesday.
Terms of the purchase, which is expected to close in the third quarter, were not disclosed. The deal requires approval of the Federal Communications Commission.
‘This is a bittersweet day for the Noe family,’ George Noe was quoted in a news release. ‘While we as a family agreed that we wanted to sell this asset, we are sad that our 54-year stewardship of KNOE-TV is coming to an end.’
KNOE-TV went on the air in September 1953. James Noe was serving as Louisiana lieutenant governor in 1936 when Gov. Oscar K. Allen died. He served as governor for five months. Noe died in 1976.
Hoak Media owns 19 stations in Lincoln-Hastings and North Platte, Neb.; Sioux Falls, S.D.; Fargo, Bismarck, Minot, Williston and Dickinson, N.D.; Wichita Falls, Texas; and Grand Junction, Montrose and Glenwood Springs, Colo.
The company was formed in 2003 to buy, develop and run radio and television stations in small and medium-size U.S. markets. In some markets it operates more than one station.
Hoak president and chief executive Eric Van den Branden said the KNOE purchase ‘allows our company to acquire a station that is not only top ranked in the market in terms of audience and billings, but also one of the strongest CBS affiliates in the country.’
Noe Corp. also operates KNOE-FM radio in Monroe. The company expects to sell the station in the next few months, George Noe said.
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