Gray Television acquires four stations

2013-11-04T12:06:00Z 2013-11-04T17:14:14Z Gray Television acquires four stationsThe Associated Press The Associated Press
November 04, 2013 12:06 pm  • 

ATLANTA — Gray Television Inc., which owns KOLN/KGIN in Lincoln, said Monday it reached a deal to buy Yellowstone Television LLC, which owns several TV stations that operate in Texas, Wyoming and Nebraska.

Under the agreement, Gray bought a 99 percent nonvoting interest in Yellowstone for $23 million in cash and started operating the Yellowstone stations under a local marketing agreement.

The stations are KGNS-TV in the Laredo, Texas, market and KGWN-TV in the Cheyenne, Wyo.-Scottsbluff market. KGWN-TV extends throughout the market via KSTF(TV) in Scottsbluff, and K19FX in Laramie, Wyo. In addition, KCHY-LP, which is the NBC affiliate for the Cheyenne-Scottsbluff market, will integrate its operations with KGWN-TV. Also being acquired is KCWY-TV in the Casper, Wyo., market

If it receives regulatory and other approvals, Gray will acquire voting control of Yellowstone in a follow-up deal. Additional financial terms were not disclosed.

Atlanta-based Gray owns and operates TV stations in 31 markets, including several others in Nebraska.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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