In the years following the 1983 exchange deal, WGRZ-TV changed hands several times. General Cinema exited the broadcasting business by selling Coral Television in 1986 to WGRZ Acquisition Corp., a partnership between SJL Broadcast Management, TA Associates and Smith Broadcasting. The price tag was $56 million. Native Buffalonian and former Newport Television CEO Sandy DiPasquale also held an ownership stake in WGRZ-TV (through his stake in Smith Broadcasting) at this time. Two years later, Tak Communications purchased WGRZ-TV from the SJL-led group for $100 million in 1988. Less than four years later in 1991, Tak filed for Chapter 11 bankruptcy. A group of creditors seized the company's assets in 1994. Argyle Television Holdings II, a broadcasting holding company formed by a group of managers who had recently left Argyle I after that company sold all of its stations to New World Communications, purchased the station. Then-sister station KITV (in Honolulu, Hawaii) was included in the sale. Tak's creditors sold the two TV stations for $91 million in 1995. Argyle II closed on WGRZ-TV in April of that year, followed by KITV two months later.