AI-assisted summary

Gray Media is acquiring WLFI-TV and nine other stations from Allen Media Group for $171 million.

The sale is expected to close in the fourth quarter of this year pending regulatory approvals.

WEST LAFAYETTE, IN — Atlanta-based Gray Media announced Friday that a deal has been reached with Allen Media Group to buy 10 news stations, including WLFI-TV, for a total of $171 million.

In June, Allen Media Group said it had retained investment bank Moelis & Co. to sell its group of 28 broadcast TV stations in 21 markets across the United States.

In the sale to Gray Media, Allen Media Group also sold off its Indiana stations in Evansville , Fort Wayne and Terre Haute.

"The transaction would bring Gray into three new markets — Columbus-Tupelo, Mississippi; Terre Haute, I

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