In August 2014, the Minority Media and Telecommunications Council (MMTC) scored a victory of sorts in finding “socially disadvantaged and qualified buyers” for several television stations Gray Television needed to divest following its acquisition of Hoak Media.
Gray initially agreed to sell one of these stations to a company that would, in turn, ink a Shared Services Agreement with Gray, allowing it to operate it. The FCC under former Chairman Tom Wheeler said no, and a woman-owned operator bought the station.
It turns out that plan didn’t work for the buyer. Paperwork has just been filed with the Commission that will formalize a sale agreement forged in May. The buyer is Gray.