By THE ASSOCIATED PRESS
QUINCY â The Quincy Media Inc. board of directors has announced shareholder approval of a $925 million cash purchase offer for the companyâs television and radio properties â including WGEM AM-FM-TV â from Gray Television Inc., a public media company headquartered in Atlanta.
The sale, which is subject to federal regulatory approvals, is expected to close later this year, a release issued Monday morning said.
The sale includes all of the companyâs television and radio properties, which serve 16 markets, but does not include The Herald-Whig or Hannibal Courier-Post newspapers, which are being sold separately.
âThis was a difficult decision for our Board of Directors and shareholders,â said Quincy Media President and CEO Ralph M. Oakley, who also is a board member. âWe have always put community service first and have served our viewers, listeners and readers with the best in news and public service. We have also taken