Coastal also operates CBS affiliate KGWC-TV (channel 14) under a separate SSA with owner Big Horn Television LLC.

[16] Coinciding with the affiliation switch, on March 1, 2004, K-TWO TV of Wyoming, controlled by Cheryl Kaupp, began operating KTWO-TV under a local marketing agreement, and that October filed to purchase the station outright from Equity Broadcasting for $1.7 million.

[17] Kaupp was the daughter of Marvin Gussman, whose Wyomedia Corporation owned KFNB;[18] Wyomedia's general manager, Mark Nalbone, served as a consultant to KTWO and owned a thirty-percent interest in Mark III Media, which was in the process of acquiring KGWC-TV,[19] though in December 2005 he told Television Business Report that he did not speak for KTWO in retransmission consent negotiations.

[18] In April 2004, Nalbone announced that KTWO would vacate its longtime studios on East Second Street in Casper;[19] its present location shares operations with KFNB, KWYF, and KGWC on Skyview Drive.

[21] Equity Broadcasting retained ownership of channel 33 in Cheyenne, which had changed its call sign to KDEV in 2005, and allowed KTWO to continue to operate it; KTWO later moved its ABC programming in Cheyenne to a low-powered repeater, KKTU-LP (channel 40), after KDEV dropped ABC in favor of programming from RTN.

In July 2005, KTWO was added to the Dish Network line up of channels for customers in the Casper/Riverton designated market area.

[24] On October 8, 2019, Silverton Broadcasting announced that it would sell KTWO-TV and KKTQ-LD to Vision Wyoming, a subsidiary of Vision Alaska (run by Stephen Brissette); the sale was concurrent with Big Horn Television's purchase of KGWC-TV and Coastal Television Broadcasting Company's purchase of KFNB and KLWY.

Coastal Television's Alaska stations had moved to a NewsNet-based model the preceding April; in a June 28 interview with KTWO radio, Fielder said that the shift to NewsNet had been accelerated by the coronavirus pandemic.

[30] By April 2022, NewsNet was dropped in favor of the Coastal-owned and partly-centralized News Hub, recently acquired from Waypoint Media.