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 spinoffs from the Gray-Raycom merger brings Scripps’ holdings to 36 TV stations in 26 markets and gives Scripps its first stations in Texas and expands its Florida presence.
The sale of WSWF-LD Orlando, Fla., from Charles S. Namey to Major Market Broadcasting tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.
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).
Gray and Raycom must divest television stations in nine markets to receive approval of the $3.6 billion merger.
With the closing of the $8 million sale of eight stations to Lotus Communications, Scripps has gotten out of the radio station business. Selling all its stations brought in $83.5 million.
The sale of WHDT Stuart, Fla., from Günter Marksteiner to E.W. Scripps Co. tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.
Armstrong Williams: “The Nexstar-Tribune merger presents a similar opportunity to advance minority ownership and opportunity, and the FCC DOJ should take full advantage of the chance.”
With the Democrats taking control of the House when the new session starts Jan. 3, lawmakers and media players are re-adjusting their strategies and preparing for a slew of new hearings and investigations. Democrats have already started to circle their wagons around Nexstar’s proposed purchase of Tribune Media.
As expected, the American Cable Association has called on the government to cast a critical eye on the proposed $6.4 billion merger of Nextar with Tribune and says that without tough conditions and or divestitures, the deal should be blocked.