GENCORP<GY> UNIT TO SELL LOS ANGELES TV STATION Gencorp said its RKO General subsidiary agreed to sell KHJ-TV in Los Angeles to Walt Disney Co <DIS> for 217 mln dlrs cash plus working capital and other adjustments at closing. The company said under the agreement in principle, RKO's application to renew the station's broadcast license would be dismissed and the competing application of Fidelity Television would be granted. Disney would then acquire privately held Fidelity for about 103 mln dlrs and other adjustments. Renewal of the KHJ-TV license has been challenged in regulatory proceedings for more than 20 years. The deal is subject to prior approval by the Federal Communications Commission, the company said. Late in 1985, Gencorp cut a deal with Fidelity, a Los Angeles investor group, and Westinghouse Electric Corp <WX> to settle the license proceedings and sell KHJ-TV for 313 mln dlrs, 70 pct of which would go to Westinghouse and the remainder to Fidelity. But on Jan 28, 1987, Westinghouse withdrew from the deal because the FCC would not approve it. In early 1986, Gencorp and RKO agreed to sell WOR-TV in Secaucus, N.J., to MCA Inc <MCA> for 387 mln dlrs. The FCC has approved the transaction, but several parties have appealed. The FCC has not said when it would rule on the appeals, according to a spokemsan for Akron, Ohio-based Gencorp. Fidelity Television originally filed a competing application for the RKO license for KHJ, an independent station, in 1965. In 1980, the FCC disqualified RKO as licensee of WNAC-TV in Boston, citing anti-competitive trade practices and inaccurate financial reporting to the agency, causing renewals previously granted to RKO in New York, for WOR, and Los Angeles, for KHJ, to be denied.