WASHINGTON, DC (WLBT) - WLBT’s parent company Raycom Media is set to merge with Gray Television in 2019.
Gray Television has received approvals from the Antitrust Division of the U.S. Department of Justice and the Federal Communications Commission of its previously announced acquisition of Raycom Media, including the related divestitures of certain television stations due to market overlaps.
Gray, Raycom and buyers of the divestiture stations intend to close these transactions effective January 1, 2019, subject to the satisfaction of all conditions in each of the respective agreements.
About Gray (from website):
Gray owns and/or operates television stations in 57 television markets broadcasting over 200 separate programming streams, including over 100 affiliates of the CBS/NBC/ABC/FOX networks. Based on the consolidated results of the four Nielsen “sweeps” periods in 2017, our stations achieved the number-one or number-two ranking in both overall audience and news audience in all 57 of our 57 markets. We have entered into an agreement to combine with Raycom Media, Inc. in a transformational transaction. Following the consummation of the acquisition, the combined company will own leading television stations and digital platforms serving 92 markets. The combined company will also include video program production, marketing, and digital businesses including Raycom Sports, Tupelo-Raycom, and RTM Studios, the producer of PowerNation programs and content.
For more information, visit the Gray Television website.