Gray and Marquee Broadcasting Swap Television Station Assets
February 01 2024 - 4:30PM
Gray Television,
Inc. (“Gray” or the “Company”) (NYSE:
GTN) announced today that it has reached agreements with
Marquee Broadcasting, Inc. (“Marquee”) to swap television stations.
Gray will sell its television stations in the Cheyenne-Scottsbluff
and Casper television markets (DMAs 194 and 198, respectively) to
Marquee in exchange for Marquee’s FCC permit authorizing the
construction of new, unbuilt television station KCBU in the Salt
Lake City market (DMA 27).
Neither party will pay additional cash or
consideration to fulfill the terms of this swap. The transactions
are expected to close simultaneously in the second quarter of 2024
following receipt of regulatory and other approvals.
“Marquee is excited to acquire Gray’s leading
stations in Wyoming and Western Nebraska. We are looking forward to
building on the legacy there,” stated Marquee CEO Patricia Lane.
About
Gray:
Gray Television, Inc. is a multimedia company headquartered in
Atlanta, Georgia. Gray is the nation’s largest owner of top-rated
local television stations and digital assets in the United States.
Its television stations serve 113 television markets that
collectively reach approximately 36 percent of US television
households. This portfolio includes 80 markets with the top-rated
television station and 102 markets with the first and/or second
highest rated television station. Gray also owns video program
companies Raycom Sports, Tupelo Media Group, and PowerNation
Studios, as well as the studio production facilities Assembly
Atlanta and Third Rail Studios. Gray owns a majority interest in
Swirl Films. For more information, please visit www.gray.tv.
Gray Contact:
Kevin P. Latek, Executive Vice President, Chief
Legal and Development Officer, 404-266-8333
Gray Television (NYSE:GTN)
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