Gray Television has reached a deal with Diversified Communications to buy its TV stations in Bangor, Maine and Gainesville, Fla.
In an announcement Thursday, Gray said it will pay $85 million for Bangor’s CBS affiliate, WABI, and Gainesville's ABC affiliate WCJB. The deal is subject to FCC approval.
Gray said both stations are their markets’ top performers and that their newscasts ranked No. 1 at all times in the last nine Nielsen ratings periods.
WABI, Maine’s first television station, has long operated a bureau in the state capital, Augusta, which is outside its market. Gray’s acquisition will allow WABI and WAGM in Presque Isle, Maine, a former Diversified station now owned by Gray, to share news and resources, the company said.
Adding WCJB to Gray’s portfolio will open that station up to news sharing with WCTV, Gray’s CBS affiliate in Tallahassee.
(Photo via Pictures of Money's Flickr. Image taken on Sept. 17, 2015 and used per Creative Commons 2.0 license. The photo was cropped to fit 9x16 aspect ratio.)
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.