In 1986, a family-owned television broadcasting company based in St. Paul, Minn., came to fruition. Over time, this operation would grow to 16 stations in markets as diverse as Tucson; Corpus Christi, Tex.; and San Luis Obispo, Calif.
Thirty-two years later, Cordillera Communications is exiting TV station ownership.
The buyers: One big publicly traded media company that just sold off its radio stations, and an Illinois-based player with a diverse portfolio of media properties.