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Lubbock's RAMAR Communications is selling off a major portion of its media portfolio. In a two-part sale, announced on Monday, RAMAR will sell off its Lubbock television stations to two separate owners.

FOX 34 (KJTV) and KJTV-CD (over-the-air channel 33) are being sold from RAMAR to SagamoreHill Broadcasting. RAMAR's other portion of its Lubbock television portfolio: CW 23 (KLCW), MyNetwork- Lubbock (KMYL 14) and Telemundo (KXTQ 46) will be sold to Gray Television, the current owners of Lubbock's NBC affiliate KCBD 11.

Meanwhile, KAMC News additionally reports that SagamoreHill will execute a shared-services agreement with Gray in which KCBD 11 will provide news and weather coverage for FOX 34.

RAMAR Communications will continue to own its radio cluster in Lubbock and a group of television stations in Albuquerque and Santa Fe, NM. RAMAR was founded by the late Ray Moran in 1972 and is still family-run, by President Brad Moran.

As part of the announcement of the sale of FOX 34 (KJTV), Brad Moran said, “As we start our 40th year in December I can think of no better companies to be a good steward of these stations and serve the Lubbock area than my longtime friends at SagamoreHill and Gray. Our employees, some of which have worked for the company since 1972, will have the chance to join two well-established broadcasters. I especially want to thank the clients and viewers for trusting us for so many years.”