On May 5, 1994, Great American Communications (which would be renamed Citicasters following the completion of its debt restructuring later that year) agreed to sell WBRC and three of its sister stations – fellow ABC affiliate WGHP in High Point, North Carolina, NBC affiliate WDAF-TV in Kansas City and CBS affiliate KSAZ-TV in Phoenix – to New World Communications for $350 million in cash and $10 million in share warrants. As part of a broader deal between New World and the Fox Broadcasting Company signed on May 23 of that year, New World agreed to affiliate five of its eight existing television stations and the four it had acquired from Great American with Fox, in a series of affiliation transactions that would take two years to complete due to the varying conclusion dates of their ongoing contracts with either ABC, NBC or CBS. Three weeks later, New World agreed to buy WVTM-TV and three other stations—CBS affiliates KDFW in Dallas–Fort Worth and KTBC in Austin, and ABC affiliate KTVI in St. Louis—from Argyle Television Holdings, in a purchase option-structured deal worth $717 million. Due to conflicts with FCC ownership rules of the time period, New World subsequently decided to establish and transfer the licenses of WBRC and WGHP into a trust company, with the intent to sell them to the Fox network's broadcasting subsidiary, Fox Television Stations (in the case of Birmingham, New World could not keep WBRC and WVTM since the FCC then forbade a single company from owning two television stations in the same market; the concurrent Argyle and Citicasters acquisitions also put New World three stations over the FCC's twelve-station ownership limit).