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FCC Approves Gray’s $2.8B Purchase of the Meredith TV Stations

Gray Television
(Image credit: Gray Television)

WASHINGTON, D.C.—The FCC has approved Gray Television’s acquisition of the Meredith TV stations and granted the transfer of the licenses to Gray. 

In making the ruling the FCC denied two objections to the acquisition: “We find that the informal objections are without merit and that grant of the Applications would serve the public interest, convenience, and necessity,” the Commission said. 

The FCC has received objections from Rick Mattoon and Mr. Antenna Las Vegas LLC.

The commission was ruling on Gray’s plan to “acquire Meredith’s entire broadcast television portfolio, which includes 16 full power television stations in 12 markets, for more than $2.8 billion. Gray has divested a top-four television station (WJRT Divestiture) in the Flint-Saginaw-Bay City, Michigan Nielson Designated Market Area (DMA). The Applicants represent that following the WJRT Divestiture there are no other DMAs in which Gray and Meredith both own television stations; the Transaction will not result in the creation of any new duopolies; and the Transaction is in compliance with the Commission’s Local Television Ownership Rule. After consummation of the proposed Transaction, Gray will have a national audience reach of just under 25 percent—below the Commission’s 39 percent cap," the Commission concluded.