Gray Television is closing out 2021 with another deal. While it is hardly the size of its Quincy Media, Inc., or Meredith Local Media transactions, it is certainly worth noting.
The company co-led by Pat LaPlatney and Hilton Howell Jr. is scooping up five licensed low-power TV stations and a single Construction Permit. The seller: Jeff Winemiller.
Winemiller-led Lowcountry 34 Media is agreeing to spin the following properties to Gray:
- K19MZ-D, Arriba, Colorado
- K32OG-D, Pueblo, Colorado
- W31FD-D, Beaufort, South Carolina
- W29FR-D, Lebanon-Nashville, Tennessee
- W36FM-D, Etna, Maine
- W19FA-D, Bangor, Maine
W19FA-D is the Construction Permit.
Arriba, Colo., is situated along I-70, east of Limon and within the Denver DMA. However, broadcast TV stations from Colorado Springs have also been viewed, historically, in this prairie land in the eastern part of the state. As such, Gray has an opportunity to spread KKTV-11, the CBS affiliate in Colorado Springs it owns, to this small burgh. At the same time, adding the Pueblo LPTV could give Gray a growth opportunity due south of KKTV’s base of operations.
Beaufort is within the Savannah DMA. There, Gray is the owner of long-dominant CBS affiliate WTOC-11.
Then, there is Nashville, where Gray recently acquired WSMV-4 from Meredith. Gray’s RTM Studios is also housed in Nashville,
Etna, Me., is due west of Bangor. There, Gray owns CBS affiliate WABI-5.
With the mini-stations, Gray will complement its existing operations in four DMAs.
The price Gray is paying Winemiller to boost its presence in the four markets: $1.165 million.
A $500,000 deposit has been paid by Gray to Lowcountry 34 Media.
Patrick Communications is the broker of record in this deal, representing Winemiller and Lowcountry 34.
Winemiller’s legal counsel in this transaction is Davina Sashkin of BakerHostetler.
