MONTGOMERY, AL (WSFA) - The U.S. Department of Justice’s Antitrust Division and the Federal Communications Commission have approved the merger agreement between Montgomery-based Raycom Media and Atlanta-based Gray Television.
Raycom is the parent company of this television station. The deal for Raycom’s sale to Gray will close Jan. 1, 2019.
DOJ and FCC approvals required both companies to divest, or sell, certain television stations that were identified in the initial merger announcement on June 25. Both companies agreed to the conditions and will close on the sale of those properties effective on Jan. 1.
Of the stations that will be sold, only one is located in Alabama. That station is Raycom’s WDFX Fox 34, located in Dothan. The sale of WDFX is being made because of prohibitions on ownership of multiple stations in the same market. Gray already owns WTVY, the Dothan CBS affiliate.
Other stations to be divested include Raycom-owned properties in Knoxville, Toledo, Waco, Tallahassee, Augusta, Odessa, and Panama City. A Gray-owned station in Albany (Ga.) is also being sold.
Raycom Media was one of the nation’s largest privately-owned local media companies prior to the $3.6 billion sale. It owns and/or provides services for 65 television stations and 2 radio stations in 44 markets across 20 states. It also owns or provides services for stations covering 16 percent of U.S. television households.
Gray, a publicly traded company, owns or operates the No. 1 or No. 2 ranked television station in all 57 television markets in which it currently has a presence.
Once the merger is complete, the company, which will retain the Gray Television name, will have a presence in 92 television markets with 142 full-power television stations, making it the third largest broadcaster in the nation. The stations will reach a combined 24 percent of U.S. households.
In addition to its portfolio of television stations, Gray will operate video production, marketing, and digital businesses that include Raycom Sports, Tupelo-Raycom, and RTM Studios, the producer of PowerNation programs and content.
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