Indiana TV stations to be acquired as part of $171 million deal
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Georgia-based Gray Media Inc. on Friday announced a $171 million deal with Allen Media Group Inc. in Los Angeles.
The agreement will allow Gray to acquire television stations in 10 markets throughout the country, including four in Indiana.
If the deal is approved, Gray will take ownership of WEVV-TV Channel 44 in Evansville, WFFT-TV Channel 55 in Fort Wayne, WTHI-TV Channel 10 in Terre Haute, and WLFI-TV Channel 18 in West Lafayette.
The sale also includes stations in Alabama, Illinois, Louisiana, and Mississippi.
Allen Media Group acquired the Indiana stations in two transactions in 2019. A news release announcing the proposed sale did not specify the company’s reasoning for offloading the stations.
The deal expands Gray’s presence in Indiana with its first foray into the Terre Haute and West Lafayette markets. The company currently owns WNDU-TV Channel 16 in South Bend, WPTA-TV Channel 21 in Fort Wayne and WFIE-TV Channel 14 in Evansville.
Gray said it expects the acquisition to close in the fourth quarter this year, pending regulatory approval.