Newspaper publisher and broadcaster Media General ( MEG) agreed to sell two stations for about $35 million to New Vision Television.

The deal covers Media General's WIAT in Birmingham, Ala., and KIMT in Mason City, Iowa. The transaction is expected to close in the third or fourth quarter of 2006.

Media General now has signed definitive agreements to sell all of the CBS stations that the company announced in April that it planned to sell. Net proceeds after tax of about $125 million will be used for debt repayment.

"We are delighted to have reached definitive agreements for the sale of these stations and expect to complete all the sales well within our original target of the end of this year. In addition, we will substantially exceed our original expectations of net proceeds available for debt repayment," said the company.

New Vision Television owns and operates television stations across the country.

Shares of Media General were last trading at $37.03, up 60 cents, or 1.65%.

This story was created through a joint venture between and IRIS.