Atlanta’s Gray Television buying 17 stations for $2.7 billion, including 1 in Alabama
Updated 7:42 PM;
By Rodney Ho The Atlanta Journal-Constitution (TNS) and
Tribune Media Services
Atlanta-based Gray Television has agreed to purchase Meredith’s 17 television stations, including Atlanta’s CBS46 ( WGCL-TV) and Peachtree TV ( WPCH-TV), for an estimated $2.7 billion including debt.
The acquisition would make Gray one of the largest TV station owners in the country, with 101 stations in 113 markets reaching about 36% of U.S. households.
The deal, announced Monday, still requires regulatory approval.
What’s happening
The deal marks the first time Gray has owned TV stations in its hometown of Atlanta.