Noe Corp. has announced the sale of its CBS-8 KNOE-TV in Monroe LA. The buyer is Hoak Media Corporation, which will add it to a portfolio which already includes stations in Nebraska, South Dakota, North Dakota, Texas and Colorado. President George Noe said, "This is a bittersweet day for the Noe family. 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."
The sale takes the family two-thirds of the way out of the broadcasting business in the market. It sold KNOE-AM to Holladay Broadcasting in a deal filed with the FCC last December and plans to announce the sale of KNOE-FM in the coming months.
Hoak Media President and CEO Eric Van den Branden noted they were getting one of the strongest CBS affiliates and the nation, commenting, "This acquisition is consistent with our strategy of acquiring stations with quality local news programming, solid management teams, and the highest commitment to serving their local communities."
The value of the transaction was not immediately disclosed.