A Permian Basin Double Pluck For Gray Television

0

In Texas’ Permian Basin region, Gray Television owns the CBS affiliate and the low-power TV station housing the Telemundo affiliate for this portion of the Lone Star state.


Now, Gray is bulking up in Odessa and Midland, with the addition of two more TV facilities. One is a full-power facility, giving it an official duopoly and four broadcast signals in the market.

On July 23, the company signed off on an asset purchase agreement that sees it acquiring KWWT-30, the MeTV-affiliated station in Odessa running programming from the Weigel Broadcasting-owned network.

It’s owned by JB Broadcasting, with “Winstar Odessa” as the licensee for this former Pax TV affiliate and, from 2006-2013, affiliation with The CW Network.

Concurrently, Winstar shareholder Martin Weiss is independently selling to Gray KMDF-LD in Midland, Tex.

The deal has been filed with the FCC as a single transaction, valued at $1.84 million.

An advance payment of $73,489.78 has been made to JB and Weiss by Gray.

There is no broker or finder associated with this deal, which will pair KWWT and KMDF alongside KOSA-TV, “CBS 7,” and “Telemundo 20.”

Gray acquired KOSA for $33.6 million in 2015 from Investment Corp. of America. It competes against Nexstar Media Group-owned ABC affiliate KMID-2 and Nexstar-run FOX affiliate KPEJ-24; and NBC affiliated KWES-9.

In August 2019, KWES was spun to TEGNA as it would have ended up in Gray hands, following that company’s merger with Raycom Media.

Ownership of KWES and KOSA would have violated the Commission’s local ownership concentration rules.