Hearst-Argyle Television Inc., the owner of 26 televisions stations including KITV in Honolulu, is being sued by an investor seeking to halt Hearst Corp.'s plan to buy the portion of the company that it doesn't own.

Bloomberg News reported the lawsuit was filed today in New York by investor Paul Schwartz. Hearst said it would offer $4 a share for the stock. It owns about two-thirds of Hearst-Argyle's outstanding Series A common shares, Bloomberg reported.