(RTTNews) - Gray Media, Inc. (GTN), Friday announced an $80 million agreement to acquire several television stations from Block Communications, Inc., aiming to strengthen its footprint across the Midwest.
The deal will establish a new Big Four duopoly in the Louisville, Kentucky market and bolster Gray's regional presence by adding leading local news stations in two additional markets.
The acquisition includes FOX and CW affiliates WDRB and WBKI in Louisville, complementing Gray's existing NBC affiliate WAVE3 in the same market. It also adds WAND, the NBC affiliate in the Springfield-Champaign-Decatur, Illinois market, and WLIO, the NBC affiliate in Lima, Ohio, along with WLIO's low-power sister stations. Both WAND and WLIO led their respective markets in all-day household ratings in 2024, according to Comscore.
Gray expects the deal to close in the fourth quarter of 2025.
GTN is currently trading at $4.45, down $0.06 or 1.33 percent on the New York Stock Exchange.
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