Atlanta-based Gray Media, Inc. continues to expand its television holdings with six more acquisitions announced today.
Gray, which owns flagship independent station WANF and CW affiliate WPCH in Atlanta, is purchasing six TV stations from American Spirit Media, LLC for $50 million. Gray has been providing back-office services for these stations for the past decade. Now it will own the stations outright.
| DMA # | Station | Market | Network | Gray Also Owns… |
| 81 | WUPW | Toledo, Ohio | Fox | WTVG, WFND |
| 100 | WDBD | Jackson, Miss. | Fox | WLBT, WLOO |
| 125 | WSFX | Wilmington, N.C. | Fox | WECT, WTWL |
| 126 | WXTX | Columbus, Ga. | Fox | WVTM, WLTZ |
| 149 | KAUZ-TV | Wichita Falls, Tx. | CBS | KSWO |
| 176 | KVHP | Lake Charles, La. | Fox | KPLC |
Gray will begin a limited local management agreement for the stations and will pay American Spirit $40 million. There will be two closings, with the first of those closings funded with a portion of the proceeds of a private placement of $70 million of aggregate principal amount of Gray’s 7.250% Secured First Lien Notes due 2033. That was completed on June 30. Gray intends to complete the acquisition of American Spirits’ stations in the fourth quarter of this year.
Gray recently closed on an acquisition of 10 stations owned by Allen Media Group. Gray currently is in 117 markets, reaching nearly 37% of American television households.
