by Cedric ‘BIG CED’ Thornton
August 10, 2025
Grey Media bought the native TV stations.
Grey Media has introduced that it has bought 10 tv stations from Byron Allen’s Allen Media Group.
The corporate has acknowledged that the transaction to amass the stations was for $171 million. With the latest acquisitions, Gray Media is coming into three new markets: Columbus-Tupelo, Mississippi; Terre Haute, Indiana; and West Lafayette, Indiana. This may also enable Gray Media to strengthen its service to viewers within the seven different markets.
The tv stations to be offered are: Huntsville, AL, WAAY (ABC); Paducah, KY-Cape Girardeau, MO-Harrisburg-Mt. Vernon, IL, WSIL (ABC); Evansville, IN, WEVV (CBS/FOX); Ft. Wayne, IN, WFFT (FOX); Montgomery, AL, WCOV (FOX); Lafayette, LA, KADN (FOX/NBC); Columbus-Tupelo, MS, WTVA (ABC/NBC); Rockford, IL, WREX (NBC); Terre Haute, IN, WTHI (CBS/FOX); West Lafayette, IN, WLFI (CBS).
The transaction between the 2 firms ought to be accomplished by the tip of the yr.
This transaction takes place two months after Allen settled a $10 billion lawsuit towards fast-food retailer McDonald’s. The events didn’t disclose the quantity for which the swimsuit was settled. The 2 firms got here to an settlement earlier than the scheduled trial. The entrepreneur sued the company over the corporate’s alleged refusal to promote with Black-owned firms.
Allen launched an announcement concerning the settlement between the 2 companies.
“We’re happy to discover a decision that maintains our enterprise relationship,” Allen mentioned in a written assertion. “Through the course of this litigation, lots of our preconceptions have been clarified, and we acknowledge McDonald’s dedication to investing in Black-owned media properties and rising entry to alternative. Our variations are behind us, and we sit up for working collectively.”
Three years in the past, the entrepreneur positioned a $10 billion bid to purchase Disney’s ABC Community, in line with Bloomberg. The deal didn’t undergo. Nevertheless, lower than two years in the past, Allen additionally put in a bid to deliver the BET Community again below Black possession, however the dad or mum firm, Paramount, determined to not promote BET to anybody.
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