This week E.W. Scripps Co broadcasting group announced that they will buy two ABC affiliates from Raycom Media. ABC KXXV in Waco Texas and CBS KHRD in Byron TX will be sold to Scripps as part of Gray Televisions 3.6 billion dollar deal to buy Raycom Media.
“Scripps’ acquisition of these two stations is in line with the strategic vision we set out early this year: to strengthen our portfolio of local television stations while delivering value to shareholders,” Scripps President and CEO Adam Symson wrote in a press release. “In addition to expanding our household reach and deepening our strong relationship with ABC, this transaction expands our political footprint in key battleground states leading up to the 2020 elections.”
This is all part of a deal for Gray Television to sell of 9 stations to help clear any regulatory objections. All of these stations are in markets that Gray and Raycom both own a local affiliate in. The good news for cord cutters is that this should have no impact on their existing deals with live TV streaming services like Hulu.
Here is a map of all the markets Raycom and Gray own stations in:
“We are thrilled to be joining Gray Television as we share the same core values of journalistic excellence and community service,” said Pat LaPlatney, Raycom Media’s President and
CEO. “Together, we will be a stronger, more impactful force for our audiences, advertisers, and communities. I have tremendous respect for the way Hilton Howell and Gray Television have grown
their portfolio with a focus on localism. I look forward to working alongside Hilton and the wonderfully talented people of Gray Television as the combined entities create an even greater
opportunity for growth as a leader in the broadcast industry. I also want to extend a special thank you to Paul McTear, Becky Sheffield, Ellenann Yelverton and the entire Raycom team for their
tireless efforts on this transaction.”
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