Gray Television said Thursday that it has sold seven television stations to Byron Allen’s Allen Media Broadcasting for $380 million in cash, part of a divestiture related to Gray’s purc…
’s Allen Media Broadcasting for $380 million in cash, part of a divestiture related to Gray’s purchase earlier this year of Quincy Media.
The deal expands Allen Media’s portfolio to 23 ABC-NBC-CBS-Fox network affiliate broadcast stations nationwide. It owns and operates local TV stations in 12 markets, and also owns 12 networks including The Weather Channel and the free-streaming service Local Now. Gray sold the stations — KVOA in Tucson, AZ; WKOW i Madison, WI; WSIL/KPOB in Paducah, KY- Harrisburg, IL; KWWL in Cedar Rapids, IA; WXOW/WQOW in La Crosse-Eau Claire, WI; WAOW/WMOW in Wausau-Rhinelander, WI and WREX in Rockford, IL — in an agreement to divest certain stations currently owned by Quincy, which it had acquired for $925 million in cash. The move was to facilitate regulatory approvals since Gray already operated stations in those markets.
Gray’s acquisition of Quincy and Gray’s sale to Allen will close simultaneously, with regulatory approval now expected by Q3 2021. “I truly appreciate Gray and Quincy, two of the best broadcast groups in the business, working with us to acquire and transfer these amazing assets,” said Byron Allen, founder, chairman and CEO of. “Over the past year and a half, we’ve invested close to $1 billion to acquire best-in-class, top-tier broadcast network affiliates.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Byron Allen Sues McDonald’s For Discriminating Against Black-Owned Media, Seeks $10 Billion In DamagesByron Allen’s Allen Media Group has sued McDonald’s Corp. for $10 billion in damages, alleging racial discrimination as the high-profile businessman continues to pound big companies for not giving …
Weiterlesen »
Byron Allen to buy seven TV stations, including Tucson outlet, for $380 millionIn the past two years, Allen Media has spent nearly $1 billion buying network affiliate TV stations.
Weiterlesen »
Byron Scott Sides With LeBron James, NBA's Play-In Tourney Is A Terrible Idea!Byron Scott shares LeBron James' hatred for the NBA's play-in tournament ... telling TMZ Sports he wishes the league would cut the crap and stick to its regular postseason format.
Weiterlesen »
Jordan Spieth fires 63 at Byron Nelson for share of leadJordan Spieth hasn't played much golf lately. The three-time major winner revealed this week that he tested positive for COVID-19 about 10 days after the Masters, leading him to take a few weeks off to recover. Yet his bout with the coronavirus sapped neither his golf talent nor his flair for the dramatic.
Weiterlesen »