Seattle TV Station Sold As Part Of $35 Million Deal

SEATTLE - Paxson Communications has signed an agreement with ValueVision International to acquire Seattle's KBGE-TV, Channel 33, along with two other non-cable, low-power stations in Portland and Indianapolis, and minority interests in other entities that have applied for two new stations, for $35 million.

Paxson, based in West Palm Beach, Fla., will pay ValueVision $25 million on closing, scheduled in the spring. The remaining $10 million will be paid when KBGE, now operating at reduced power from downtown Seattle, is able to relocate and increase its transmitter power to a level at or near its licensed full power.

KBGE broadcasts ValueVision, a home-shopping channel based in Minneapolis. ValueVision will retain its recently launched low-power station K58DP-TV, which transmits from the top of the Columbia Seafirst Center.