CBS Corporation and Gray Television have ironed out what both call a “comprehensive, long-term agreement,” renewing all 26 affiliation agreements for Gray's CBS stations.
CBS called Gray “a key partner for many years.”
"A majority of Gray-owned CBS stations are No. 1 in the markets they serve, and we are pleased that in extending this deal, Gray sees the value CBS programming brings to their business,” said Ray Hopkins, president, television networks distribution, CBS Corporation.
CBS is pushing for substantial reverse compensation from its affiliates. Terms of the agreement were not divulged.
Gray had 17 station agreements coming due this year and nine more after this year. The stations include WVLT Knoxville and WKYT in Lexington, Kentucky.
"Gray's stations, management, and employees have enjoyed a deep relationship with CBS that dates back many decades," said Gray CEO Hilton H. Howell, Jr. "The new agreement ensures that Gray and CBS will continue to serve our local viewers with high-quality network and local programming, and this agreement allows us to continue to grow and strengthen our relationship with CBS for the foreseeable future."
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