A former Bally Sports television executive has withdrawn his interest in acquiring several local television stations from Imagicomm Communications, according to documents filed with federal regulators this week.
The documents, submitted with the Federal Communications Commission (FCC) on Tuesday, said Rincon Broadcasting Group was transferring control of the stations to Community News Media LLC, an entity affiliated with Standard Media and controlled by Soohyung Kim.
The stations include:
- KAYU (Channel 28, Fox) in Spokane, Washington
- KCYU-LD (Channel 41, Fox) in Yakima, Washington
- KFFX (Channel 11, Fox) in Kennewick, Washington
- KMYT (Channel 41) in Tulsa, Oklahoma
- KOKI (Channel 23) in Tulsa, Oklahoma
- KYMA (Channel 11, CBS) in Yuma, Arizona
- WHBQ (Channel 13, Fox) in Memphis
According to the documents, Parkin agreed to sell his 100 percent interest in the stations to Community News Media under an Equity Acquisition Agreement signed March 13. The deal values the transaction at $116.5 million, with Kim — who leads hedge fund Standard General — acquiring Parkin’s stake. Day-to-day oversight of the stations is handled by Deb McDermott.
The reversal effectively ends Parkin’s brief return to broadcast station ownership. Parkin had only recently re-entered the station business after more than a decade away, following earlier ownership of stations in Ohio and Georgia.
The group of stations involved spans multiple prior transactions, including properties Parkin had agreed to acquire from Imagicomm Communications and Standard Media, as well as a separate deal announced in July 2025 involving stations from Sinclair, which is also being unwound.
According to a source familiar with the matter, Standard Media is not expected to operate the stations for very long: A deal with Sinclair is reportedly in the works, and executives from both companies believe the transaction will close quickly in light of Nexstar Media Group’s recent acquisition of TEGNA.
