Gray Selling Stations To Scripps, Tegna, Lockwood

Learning a lesson from the Sinclair/Tribune fiasco, Gray Television has announced that they are going to divest some of the stations that they are buying as part of the Raycom deal. 

Unlike what Sinclair tried to do, Gray wisely will not have any joint sales, joint retransmission, shared services, or local marketing arrangements with any divested station.

Additionally, Gray will not hold an option to repurchase any divested station, nor will Gray finance or guarantee any purchaser's indebtedness. In short, following consummation of the transactions, the divested stations will operate independently of Gray and under the full control of their new owners.

Sinclair you might want to use this example as a lesson. 

So who is buying what from Gray? 

Lockwood Broadcasting has agreed to purchase Fox affiliates WTNZ in the Knoxville market, WFXG in the Augusta market, WPGX in the Panama City market and WDFX in the Dothan market.

Scripps has agreed to purchase ABC affiliates KXXV/KRHD in the Waco market and WTXL in the Tallahassee market.

Tegna has agreed to purchase CBS affiliate WTOL in the Toledo market and NBC affiliate KWES in the Odessa-Midland market.

By being upfront and not trying to pawn stations off on friends and call it a sale, Gray will likely have this deal approved by the FCC quickly. 

Somewhere David Smith's head is spinning around as Sinclair is being used as the example of how not to do something. 

---