Block Communications has entered into an agreement to sell its entire portfolio of television stations to Gray Media, the companies announced on Friday.
The deal is valued at $80 million, and includes local TV stations in four markets — Louisville, Kentucky; Lima, Ohio; Decatur, Illinois and Toledo, Ohio.
Gray Media said the transaction will require waivers from the Federal Communication Commission (FCC) with respect to the Louisville stations because it already owns an outlet there. Typically, broadcasters are not allowed to own two of the top-four performing stations in a market unless one or both stations are considered to be in financial distress.
Low-power translators of full-power stations are included in the transaction. The stations covered are:
- WAMS-LD (Channel 35, ABC and CBS) in Minster, Ohio
- WAND (Channel 17, NBC) in Decatur
- WBKI (Channel 58, the CW) in Louisville
- WDRB (Channel 41, Fox) in Louisville
- WFND-LD (Channel 19) in Toledo
- WLIO (Channel 8, NBC and Fox) in Lima
- WOHL-CD (Channel 35, ABC and CBS) in Lima
- WPNM-LD (Channel 35, ABC and CBS) in Leipsic, Ohio
If approved, the deal will create a rare triopoly of stations owned by a single company in Louisville, where Gray already owns NBC affiliate WAVE-TV (Channel 3).
Other properties owned by Block Communications, including its newspapers and cable TV assets, are not included in the deal.
