Behind Gray Television’s ‘Failing’ Plan To Win


On February 1, one of the media industry’s biggest deals of some time — Gray Television‘s purchase of Quincy Media, Inc. — became known.

The Gray deal, valued at $925 million, sees the immediate divestment of Quincy stations in six markets where current local ownership rule limits prevent Gray from keeping the stations.

The transaction also sees Gray seeking a “failing station” waiver in an Indiana market and one Wisconsin market, with details of its plan filed as part of a publicly redacted 106-page filing made with the FCC.

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