Updated at 9:33 a.m., Thursday, May 31, 2007
KHON-TV owner exploring sale of station
BY RICK DAYSOG
Advertiser Staff Writer
Joe McNamara, KHON's president and general manager, said Montecito Broadcast Group LLC has decided to explore the sale of the stations over the next 30 days after receiving an unsolicited offer.
Montecito, whose partners include the Blackstone Group of New York, owns KHON, KOIN in Portland and KSWN-TV in Wichita, Kan.
The company purchased KHON in January 2006 from Indianapolis-based Emmis Communications Corp. The new owners were criticized by employees when they announced they would lay off nearly a third of its staff. The company later scaled back the cutbacks after several managers resigned.
