Gray Television to buy Raycom Media for $3.6 billionMatt Boster
Posted by: Matt Boster
Date: Jun 25 2018 8:14 AM
Gray Television Inc. has purchased Raycom Media, parent company to this station, for $3.65 billion, according to a statement released Monday morning.
Once combined, the company will have 142 television stations serving 92 markets, making it the third largest television station group in the U.S.
Gray will acquire Raycom Sports, which owns the ACC Network; Tupelo Raycom, a production company; RTM Productions, an automotive programming and production company; and Broadview Media, a post production and digital sign company.
Raycom will sell Community Newspaper Holdings, Inc. (CNHI), a newspaper company in 23 states, and a PureCars, a digital ad platform.