Gray Television Inc. reached an agreement to divest certain television stations currently owned by Quincy Media Inc. to Allen Media Broadcasting LLC for $380 million, according to a report from WKOW. Allen Media, which owns and operates local television stations in 12 markets, also owns The Weather Channel, the free-streaming service Local Now, and several other networks.
Earlier this year, Gray reached an agreement to acquire Quincy for $925 million. To comply with FCC regulatory approvals for this transaction, Gray agreed to sell to Allen Media several television stations currently owned by Quincy, each of which operates in a market in which Gray also owns and operates a television station. This transaction will include WKOW in Madison that conflicts with Gray’s ownership of WMTV in Madison. Other stations sold to Allen Media include KVOA (NBC), WSIL / KPOB (ABC), KWWL (NBC), WXOW / WQOW (ABC), WAOW / WMOW (ABC), and WREX (NBC).
