The parent company of KEYT announced Monday that, pending final approval from the Federal Communications Commission, it will soon co-own Santa Maria’s CBS affiliate KCOY and purchase FOX affiliate KKFX in San Luis Obispo. News-Press & Gazette Company (which is based in St. Joseph, Missouri, and has no relation to The Santa Barbara News-Press) will also buy up KMUV and KION in Monterey.

According to a statement from News-Press & Gazette Company, current KCOY owner Cowles Media will continue to take care of management and programming duties while News-Press will provide news, back office, engineering, and sales support services. The deal is expected to close in the fourth quarter of 2013. News-Press and Cowles Media representatives were not immediately available for comment.

The announcement comes around a year after the News-Press & Gazette Company bought KEYT from Smith Media for a reported $14.25 million. Since then, KEYT has added high-definition broadcasts, hired a number of new reporters, upgraded equipment, and launched a new website. During the transition, Mark Danielson took over the general manager position. News-Press & Gazette Company owns or co-owns 23 television stations and 4 radio stations throughout the country.