Epic Media Power Move: Byron Allen Offloads 10 TV Stations to Gray Media for a Stunning $171 Million!
Gray Media Scores Big in Local TV Game with $171 Million Station Acquisition from Byron Allen
In a move that sends ripples across the broadcasting landscape, Byron Allen’s Allen Media Group, Inc. has officially waved goodbye to ten local TV stations, handing them over to Gray Media in a deal worth a cool $171 million. But don’t be fooled-this is no mere transaction; it’s a strategic reshuffling that’s bound to spice things up in the local markets.
As the fourth quarter approaches, all eyes are on Gray, who eagerly anticipates the seal of approval from regulators and a few customary closing conditions. This acquisition opens the doors to three new local TV markets: the bustling locales of Columbus-Tupelo, Mississippi; the charming streets of Terre Haute, Indiana; and the quaint town of West Lafayette, Indiana. But that’s not all, honey! Gray is set to deepen its footprint in seven existing markets, creating shiny new duopolies that promise to enhance local news coverage, weather updates, and exhilarating sports programming.
The lineup of local TV stations included in this tantalizing deal reads like a who’s-who of regional broadcasting:
- WAAY (ABC) – 75 Huntsville, AL
- WSIL (ABC) – 90 Paducah-Cape Girardeau-Harrisburg
- WEVV (CBS/FOX) – 109 Evansville, IN
- WFFT (FOX) – 110 Ft. Wayne, IN
- WCOV (FOX) – 121 Montgomery, AL
- KADN (FOX/NBC) – 124 Lafayette, LA
- WTVA (ABC/NBC) – 134 Columbus-Tupelo, MS
- WREX (NBC) – 137 Rockford, IL
- WTHI (CBS/FOX) – 159 Terre Haute, IN
- WLFI (CBS) – 189 West Lafayette, IN
Now, here’s where the plot thickens. Allen, the media mogul with a penchant for making waves, enlisted investment bank Moelis & Co. in June to facilitate the sale of his collection of 28 network affiliate stations. This sale marks the beginning of what could be a fascinating offloading saga that watchers will follow closely.
For those unacquainted, Allen has come a long way from his humble beginnings over 30 years ago, when he started his empire with a single talk show. Today, he’s sitting pretty on a treasure trove of lifestyle channels, The Weather Channel, and digital gems like The Grio and HBCU Go.
So, as we gear up for this dramatic transition, one can’t help but wonder how Gray Media will wield its newfound power and what secrets will surface in the wake of Allen’s strategic maneuvers. Keep your eyes peeled, darlings; this is just the beginning of the show!
Original Story https://variety.com/2025/tv/news/byron-allen-sells-tv-stations-gray-media-171-million-1236482388/
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