FORT WAYNE, Ind. (WPTA21) – Gray Television, a national media company with stations in 94 television markets, intends to purchase Quincy Media, the owner of WPTA and its sister stations in Fort Wayne.
The deal was announced Monday morning.
If approved by federal regulators, the $ 925 million purchase will transfer ownership of ABC21, NBC Fort Wayne and MyTV Fort Wayne – all part of WPTA, Channel 21 – and CW Fort Wayne. and several sub-channels on WISE, Channel 33.
The acquisition would be part of the stations of a group that includes WNDU (NBC) in South Bend, WFIE (NBC) in Evansville and WTVG (ABC) in Toledo.
Gray Television is based in Atlanta, operates a press office in Washington, DC, and supports a national investigative reporting team.
Further details are provided via the following press release:
Quincy Media, Inc.’s Board of Directors announced that its shareholders have approved the sale of the company’s shares for $ 925 million in cash to Gray Television, Inc., a public media company headquartered in Atlanta. , Georgia.
The sale, which is subject to federal regulatory approvals, is expected to close in Q2 or Q3 2021.
The sale includes all of the company’s television and radio properties, which serve 16 markets. Sale does not include the Quincy Herald-Whig and Hannibal Courier Post newspapers, which are sold separately.
Upon closing of the transaction, Gray will own television stations serving 102 television markets that will collectively reach 25.4% of US television households. To facilitate swift regulatory approvals, Gray will divest some of QMI’s stations in markets where Gray already has a full-power TV station.
âIt was a difficult decision for our Board of Directors and our shareholders,â said Ralph M. Oakley, President / CEO of Quincy Media, Inc., and also a member of the Board of Directors. âWe have always put community service first and served our viewers, listeners and readers with the best of news and public service. We have also played a leadership role in trying to improve economic development and the quality of life in the places where we operate and, in particular, here in our hometown of Quincy.
Quincy Newspapers, Inc. (renamed Quincy Media, Inc. in 2016) began operations in 1926, with the merger of Quincy Herald and Quincy Whig-Journal. He reunited the Oakley and Lindsay families, both of whom started in the media business over 100 years ago. Both families own a majority of QMI and several family members currently own, serve on the board of directors or are employed by the company.
With the transaction announced today, Gray will acquire the following television channels:
WPTA (ABC / NBC) and WISE (CW) in Fort Wayne, Indiana (DMA 104)
WEEK (NBC / ABC / CW) in Peoria, Illinois (DMA 118)
WREX (NBC / CW) in Rockford, Illinois (DMA 132)
KBJR (NBC / CBS) and KDLH (CW) in Duluth, Minnesota (DMA 136)
KTIV (NBC / CW) in Sioux City, Iowa (DMA 147)
KTTC (NBC / CW) in Rochester-Mason City, Minnesota-Iowa (DMA 156)
WBNG (CBS / CW) in Binghamton, New York (DMA 158)
WVVA (NBC / CW) in Bluefield-Beckley, West Virginia (DMA 162)
WGEM (NBC / FOX / CW) in Quincy, Illinois (DMA 172)
To facilitate speedy regulatory approvals, Gray has chosen to divest Quincy’s high-quality television stations in the following markets in which Gray also has a full-power television station.
Tucson, Arizona (DMA 75)
Madison, Wisconsin (DMA 80)
Harrisburg, Illinois / Paducah, Kentucky / Cape Girardeau, Missouri (DMA 91)
Cedar Rapids, Iowa (DMA 92)
La Crosse-Eau Claire, Wisconsin (DMA 123)
Wausau-Stevens Point, Wisconsin (DMA 134)
âQuincy’s market-leading television stations will be part of a similarly operated company with number one television stations in 70 of its 102 markets. While the sale of QMI closes a chapter, it opens a wonderful new one. Gray is a great company and has the same philosophy of serving the communities that we have had, âsaid Oakley.
In addition to the above stations, Gray will acquire WFEM AM / FM in Quincy, IL.