Broadcast-streaming. Atlanta-based Gray is acquiring the privately-owned Raycom, the Alabama-based operator of 65 TV stations, for $3.65bn. The combined company will reach nearly 25% of total US households with 142 television stations in 92 regional markets and will be the country’s third largest local TV group. It will serve markets as big as Cleveland and as small as Ottumwa, Iowa but will have to sell-off stations in nine markets where both companies already own stations. The deal comes at a time when the US regulator is making it easier for media companies to buy TV stations in the same market, and for local stations to jointly sell advertising time. It is expected that the new climate will prompt many more deals especially among TV, radio and newspaper owners which are scrambling to compete with digital media. The Gray deal is expected to complete by the end of 2018.
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Gray joins big league of US TV
