Shield Media LLC has agreed to pay $19.5 million for WXXA, Newport Television’s Fox-affiliate in Albany.

Shield announced it intends to enter into a shared services agreement with Young Broadcasting, the owner of ABC-affiliate WTEN, in Albany.

Shield Media is owned by Sheldon Galloway, a longtime broadcasting veteran. This is the first broadcast acquisition by the company, but it is “actively pursuing other opportunities,” according to a statement.

“I look forward to working with the talented people in Albany to develop an operational strategy that continues the outstanding tradition of community service and broadcast excellence at WXXA-TV,” Galloway said.