In wrapping up its $3.6 billion purchase of Raycom Media, it expands its footprint to 91 markets and 24% of TV homes. In connection with the merger, Gray and Raycom also completed the divestitures of nine stations in overlap markets to Tegna, Scripps and Lockwood.
The $3.6 billion merger creates another TV mega-group with stations in 92 markets reaching 24% of TV homes (or 17% with the UHF discount the FCC uses in calculating compliance with its 39% ownership cap).
