1983 for $22 million, as part of the company's overall exit from broadcasting. GE retained channel 4, but was required by FCC regulations at the time—which forbade TV and radio stations in the same city, but with different owners from sharing the same call letters—to change the station's call letters to KCNC-TV (standing for "Colorado's News Channel"), which it officially adopted on August 12 of that year. In 1986, General Electric acquired NBC, resulting in GE's return to broadcasting and KCNC becoming the first owned-and-operated station of a major network in the state of Colorado. By 1990, KCNC-TV devoted nearly all of its programming hours outside of network shows to locally produced news programs, broadcasting nearly 40 hours of newscasts each week. General manager Roger Ogden felt his station's money was better spent on local programming, rather than paying syndication distributors to acquire nationally syndicated shows. In 1990, KCNC paid $11,000 to the market's PBS member station KRMA-TV (channel 6) to carry the station's election coverage (using KCNC's reporters), in order to allow channel 4 to air NBC's Tuesday night lineup, including Matlock and In the Heat of the Night. By early 1995, KCNC-TV was airing 41 hours of news a week, and the station programmed either local-interest programming or newscasts at times when NBC did not have network programming, because the station did not buy syndicated programming. This ended almost as soon as Group W/CBS took over after the affiliation switch. CBS switch and ownership (1995–present) On July 14, 1994, CBS and Westinghouse Electric Corporation agreed to a long-term affiliation deal that would result in three of Westinghouse's television stations (longtime ABC affiliate WJZ-TV in Baltimore and longtime NBC stations KYW-TV in Philadelphia and WBZ-TV in Boston) become CBS affiliates, joining the company's two longtime CBS affiliates (KDKA-TV in Pittsburgh and KPIX in San Francisco). The deal initially called for CBS to sell its owned-and-operated Philadelphia station WCAU; however, CBS later discovered that if it sold WCAU in order to affiliate with KYW-TV, it would have had to pay hefty capital gains taxes on the profit of the transaction. To alleviate this problem, in November 1994, NBC decided to swap ownership of KCNC-TV and KUTV in Salt Lake City (which NBC had acquired the month before), along with the VHF channel 4 allocation and transmitter in Miami to CBS in exchange for WCAU and the VHF channel 6 allocation