Gray Television has completed its $3.6 billion acquisition of Raycom Media, and thus “Gray now owns the first or second highest rated television station in 85 markets, according to Comscore’s audience measurement data between December 2017 and November 2018,” notes a press announcement on the deal from Gray.
The announcement adds: “In total, Gray owns and/or operates television stations and leading digital properties in 91 television markets from Alaska and Hawaii to Maine and Florida. Collectively, these television stations broadcast almost 400 separate programming streams, including nearly 150 affiliates of the CBS/NBC/ABC/Fox networks.
“Upon the closing, Hilton Howell became Gray’s Executive Chairman and Chief Executive Officer, and Pat LaPlatney, formerly Raycom’s President and Chief Executive Officer, became Gray’s President and Co-Chief Executive Officer. In addition, Pat and Raycom’s prior president and CEO, Paul McTear, joined Gray’s Board of Directors. Bob Smith, Gray’s Chief Operating Officer, Local Media, oversees station operations and reports to Pat.”
To close the deal Gray had to sell nine TV stations. Earlier, TVNewsCheck wrote the following about those transactions:
CBS affiliate WSWG Albany, Ga. was sold to Marquee Broadcasting. Also, “Lockwood Broadcasting has agreed to purchase Fox affiliates WTNZ in the Knoxville, Tenn., market (DMA 61), WFXG in Augusta, Ga. (DMA 112), WPGX in Panama City, Fla., (DMA 151) and WDFX in the Dothan, Ala., market (DMA 173).
“E.W. Scripps has agreed to purchase ABC affiliates KXXV-KRHD in the Waco, Texas, market (DMA 86) and WTXL in Tallahassee, Fla. (DMA 108).
“Tegna is buying CBS affiliate WTOL Toledo, Ohio (DMA 78), and NBC affiliate KWES Odessa-Midland, Texas (DMA 144).”
To see the complete, official press release on the Gray Television/Raycom deal, please click here.