In November 1963, the Griffin-Leake interests reached an agreement to buy out the respective 25% interests in KWTV held by former Oklahoma Governor Roy J. Turner and Luther Dulaney – which had expanded their interest in the Oklahoma City station in August 1962, after RKO General sold its stake in KWTV to address ownership issues related to RKO's multi-layered purchase-swap transaction involving WRC-TV and WRC-AM-FM (now WTEM and WKYS) in Washington, D.C., WNAC-TV (now defunct; former channel allocation now occupied by WHDH), WNAC-AM (now WRKO) and WRKO-FM (now WBZ-FM) in Boston, the WRCV television and radio stations (now KYW-TV and ]) in Philadelphia, and the Washington-based WGMS radio stations (now WWRC and WTOP-FM) – for an initial payment of $200,000 and title rights to the equipment used by KWTV, KTUL and KATV. Turner and Dulaney would then sell the equipment, valued at $2.3 million, to First National Bank of Oklahoma City executives C.A. Voss and James Kite for $3 million. In turn, the three Griffin-Leake stations would be folded into a single corporate umbrella under KATV parent licensee KATV Inc. (subsequently rechristened as Griffin-Leake TV), which would enter into a ten-year equipment leasing agreement with Voss and Kite for a total of $4.5 million (or $37,500 per month). Griffin and the Leakes would own approximately all of the common voting stock and collectively own 84% of nonvoting common shares in KATV Inc. post-merger, with 10% of the remaining nonvoting interest held by Edgar Bell (who would remain executive vice president and general manager at KWTV).