Gray to Acquire WFXS Wausau and KVTV Laredo - Broadcasting & Cable

Gray to Acquire WFXS Wausau and KVTV Laredo

Sells stations in Montana
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Gray Television announced a quartet of deals on July 1.

The transactions include the acquisitions of WFXS Wausau-Rhinelander (Wis.) from Davis Television and KVTV Laredo (Texas) from Eagle Creek Teleivsion as well as the sales of KBGF Great Falls, Mont. and KTVH Helena (Mont.) to Cordillera Communications, LLC. and the donation of KMTF Helena to Montana State University.

The Wausau and Laredo deals closed Wednesday, while the Montana transactions, which are subject to regulatory approval, are expected to be completed in the third quarter.

Minus the estimated proceeds from the sales of the Montana stations, Gray said it expected the Wausau and Laredo net purchase price to be $20 million.

Gray also announced that it had closed three pending transactions, which include the purchase of KOSA Odessa-Midland (Texas), KMVT Twin Falls (Idaho) and WAGM Presque Isle (Maine).

“Today, Gray continues to grow our footprint with even more outstanding, community focused television stations, and we welcome their dedicated, excellent employees to the Gray corporate family,” said Hilton Howell, Gray’s president and CEO, in a statement.

The broadcaster estimated that the total net purchase price for all seven 2015 transactions is $81.35 million.

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