Grey Media, Inc. has reached an settlement with Block Communications, Inc. (“BCI”) to amass its tv stations for $80 million.
From Grey, “We anticipate the transaction to strengthen our presence within the Midwest by creating a brand new Massive 4 duopoly in a single market and by including top-ranked native information stations in two extra midwestern markets that may assist and profit from our sturdy native stations in adjoining markets.”
The transaction contains WDRB and WBKI, the Fox and CW associates for the Louisville, Kentucky, market (DMA 49), the place Grey owns and operates NBC affiliate WAVE3.
The transaction additionally contains WAND, the NBC affiliate for the Springfield-Champaign-Decatur, Illinois, market (DMA 92), and WLIO, the NBC affiliate for the Lima, Ohio, market (DMA 190) in addition to WLIO’s related low energy tv stations.
Grey stated WAND and WLIO every had the best all-day rankings amongst tv households of their markets throughout 2024, in keeping with Comscore.
Grey stated these transactions are anticipated to shut within the fourth quarter of this 12 months following receipt of regulatory approval, together with sure waivers of the FCC’s present possession guidelines, and different customary closing situations.
