On June 25, a “compelling combination” of two formidable broadcast television operators was announced. Atlanta-based Gray Television successfully reached an agreement to merge with Raycom Media.
When all is said and done, the new Gray TV will reach 24% of U.S. TV households through its 142 stations across 92 DMAs. However, nine station spins were announced in order to meet federal regulatory approval in markets where Gray and Raycom each own stations.
The first of these nine stations earmarked for sale has just been dealt. The buyer is a small operator based on the Delmarva peninsula.