Gray Television, Inc. Completes Purchase of License for a CBS-Affiliated Television Station to Serve Charlottesville, Virginia ATLANTA, Aug. 18 /PRNewswire-FirstCall/ -- Gray Television, Inc. (NYSE: GTN; GTN.A) announced today that it has completed the acquisition of a Federal Communications Commission (FCC) television license for Channel 19 in Charlottesville, Virginia from Charlottesville Broadcasting Corporation. The station is currently broadcasting under the call letters WCAV. Gray intends within the near future to produce a full complement of daily local news broadcasts to serve the viewing public in the Charlottesville area. WCAV will be carried on all area cable systems and will be available in the Charlottesville market to subscribers of the DISH Network. Mr. Bill Varecha will be the General Manager of WCAV and will oversee its operations. CBS, Inc. has agreed to a ten-year affiliation agreement to allow Gray to operate Channel 19 as a CBS-affiliated station. The television station is the 16th CBS affiliate operated by Gray and brings the total number of stations operated by Gray to 30. Charlottesville, Virginia is the 186th largest television market in the United States with approximately 70,000 television households. Charlottesville is the home of the University of Virginia with an enrollment of approximately 18,000 students. Charlottesville has only one other full power local television station serving the community and that station operates as an NBC affiliate. Gray currently owns and operates WHSV, the ABC affiliate serving Harrisonburg, Virginia, which is adjacent to the Charlottesville television market. Gray Television, Inc. is a communications company headquartered in Atlanta, Georgia, and currently operates 16 CBS-affiliated television stations, seven NBC-affiliated television stations, seven ABC-affiliated television stations and five daily newspapers. DATASOURCE: Gray Television, Inc. CONTACT: Bob Prather, President, +1-404-266-8333, or Jim Ryan, Chief Financial Officer, +1-404-504-9828, both of Gray Television, Inc. Web site: http://www.graytvinc.com/

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