Gray Television Friday announced an agreement to purchase Withers Broadcasting-owned WDTV-WVFX in Clarksburg, W. Va. for $26.5 million cash.
WDTV is a CBS affiliate and WVFX is the market’s Fox affiliate.
"WDTV/WVFX present a perfect addition to Gray’s existing cluster of top television stations serving Virginia, West Virginia, Kentucky and Tennessee,” Kevin Latek, Gray’s chief legal and development officer, said in a statement. "As a result, this acquisition will allow increased collaboration in news, sales and community service across the entire region, which in turn should benefit all stakeholders viewers, clients, employees and investors alike.”
Dana Withers, Withers Broadcasting’s president, said the sale reflects the trials facing small station owners in a time of major consolidation.
"The challenges facing family owned television stations led us to conclude that only a larger company can move WDTV/WVFX to the next level," she said in the statement. "Gray's investments and leadership in this region make [it the] best possible owner for the stations, and we are excited for the opportunities Gray will bring to our employees and community.”
