On March 27, 2006, the company announced that it would sell twelve of its television stations (including KTVO) to Schaumburg, Illinois-based Barrington Broadcasting for $262 million, as part of a strategy to concentrate Raycom's broadcast portfolio on outlets in the Midwest and Southeastern U.S. following its $987 million acquisition of the Liberty Corporation's station group; the sale was finalized that August. Following the sale, Raycom continued to maintain the LMA with American Spirit Media (which Ottumwa Media Holdings was renamed in August 2006), creating the unusual situation of a company operating a station under an outsourcing agreement despite not already owning another station in that market.