Broadcaster Gray Television Monday has acquired smaller family-owned Quincy Media for $925 million in cash in a deal that will land it with stations in 102 markets reaching over 25% of U.S.
TV households.Atlanta-based Gray said Monday its portfolio will include the top-ranked stations in 77 markets and first or second-ranked in 93 markets according to Comscore’s average all-day ratings for 2020.Gray shares were up 2.7% at $17.51 in mid-morning trade.“We are honored and humbled to be selected by Quincy’s shareholders to acquire their terrific company,” said Hilton Howell, Jr., Gray’s executive chairman and CEO. “Gray will become a stronger company with an even larger platform of high quality television stations to better serve the public
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