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Gray's Spectrum Payoff to Ring In at $90.8M

Gray Television said Tuesday it expects to reap $90.8 million from participating in the FCC’s spectrum auction.

In an announcement, the station group said the proceeds stem from the FCC accepting one or more of its bids for spectrum used by particular TV stations.

The move won’t impact jobs or operations at the Gray stations, which will be named at a later date, according to Gray. The company has yet to decide how it will use the money, which it expects to receive in the second or third quarter of this year.

Gray’s announcement comes after the FCC Monday waived its prohibition on communicating bids and bid strategies now that the broadcaster portion of the auction is complete.