Atlanta-based Gray Media has agreed to acquire television stations in ten markets from Byron Allen’s Allen Media Group for $171 million.

The transaction would bring Gray into three new markets – Columbus-Tupelo, Mississippi; Terre Haute, Indiana; and West Lafayette, Indiana – with the acquisition of the local television station in each market that had the highest all-day ratings in 2024, according to Comscore.

Gray expects the transaction to strengthen the company’s presence in the seven other markets by creating new duopolies “that would allow Gray to preserve and deepen public service to their communities with expanded local news, local weather, and local sports programming.”

It anticipates closing the transaction in the fourth quarter pending regulatory approval, including certai

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