 SCI Television also missed repayment of $162 million in bank loans before a June 30 deadline; as a consequence of its financial difficulties, Gillett/SCI decided to sell its broadcast holdings.On February 17, 1993, one day after SCI purchased WTVT in Tampa from Gillett Holdings in a separate agreement for $163 million, New World Pictures purchased a 51% ownership stake in SCI Television from Gillett for $100 million and $63 million in newly issued debt.The purchase was finalized on May 25, at which point, the film and television production company folded WAGA and its six sister stations—fellow CBS affiliates WTVT, WJW-TV in Cleveland, WJBK-TV in Detroit, and WITI-TV in Milwaukee; NBC affiliate KNSD in San Diego; and then-independent WSBK-TV in Boston—into a new broadcasting subsidiary, New World Communications.