Gray Media has finalized a transaction that involves acquiring a handful of local television stations from Block Communications, the broadcaster announced on Wednesday.
The deal involves local TV stations in Ohio, Kentucky and Illinois, with the acquisition valued at $80 million.
The transaction secured all necessary sign-offs from the Federal Communications Commission (FCC) this month, despite opposition from DIRECTV, Newsmax and a handful of public interest groups.
The stations that are covered by the deal include:
- WAND-TV (Channel 17, NBC) in Decatur, Illinois
- WBKI (Channel 51, the CW Network) in Louisville, Kentucky
- WDRB (Channel 41, Fox) in Louisville, Kentucky
- WLIO (Channel 8, NBC & Fox) in Lima, Ohio
- WOHL (Channel 35, ABC & CBS) in Lima, Ohio
The deal with Block Media is the latest transaction involving Gray Media acquiring or swapping local TV stations with others. Earlier this week, Gray Media announced it had finalized a transaction involving nearly a dozen stations previously owned by Allen Media Group. Last year, Gray Media and the E. W. Scripps Company agreed to exchange TV stations in markets where both companies already owned at least one outlet, thereby creating new market duopolies in those communities.
Gray Media describes itself as the largest owner of top-rated local TV stations affiliated with one or more of the Big Four broadcast networks — ABC, CBS, Fox and NBC — with more than 200 local TV stations in its portfolio, including those operated on behalf of third parties.
The broadcaster reaches more than 37 percent of the American TV audience, putting it within federal ownership rules that limit the reach of one company to no more than 39 percent of that same audience.
Gray Media also owns the largest group of Telemundo-affiliated stations, with 47 in its portfolio.
