Kalil & Co. Inc. represented Journal Communications, and Media Venture Partners LLC, represented OTA.
The Desert Sun previously reported that the sale had been delayed because the partial government shutdown in October prevented the Federal Communication Commission from approving the sale.
OTA Broadcasting is tied to Michael Dell, founder of the computer manufacturer through one of his other companies, MSD Capital Management. OTA owns stations in San Francisco, Seattle and New York City.
KMIR and My 13 had been cut off to many valley homes this summer during a contract dispute between Journal Broadcast Group and Time Warner Cable that ended September. The stations eventually returned to Time Warner subscribers but on different channels.
Nielsen Media Research ranks Palm Springs as the 148th largest television market in the country with more than 154,000 television homes, according to Journal Broadcast Group.
Business and real estate reporter Dominique Fong can be reached at (760) 778-4661, firstname.lastname@example.org and on Twitter @dominiquefong.