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The market is undergoing enormous consolidation, with a few station giants including Gray, Sinclair, Nexstar, Meredith and Byron Allen’s Entertainment Studios as buyers.
The local television business is a hot commodity again. With the 2020 election (and the advertising windfall that accompanied it) in the rearview mirror, owners of local TV stations are once again weighing to get bigger, or sell to the highest bidder.
The first major deal of 2021 comes via Gray Television, led by CEO Hilton Howell Jr., which announced a $925 million deal to acquire Quincy Media, led by president and CEO Ralph M. Oakley, a regional station owner that mostly operates in the Midwest United States.