Gray Media Agrees to Purchase Block Communications’ Television Stations

Group 1 - Gray Media, Inc. has agreed to acquire television stations from Block Communications, Inc. for $80 million, aiming to enhance its presence in the Midwest and create a Big Four duopoly in one market [1][3] - The acquisition includes WDRB and WBKI in Louisville, Kentucky, WAND in Springfield-Champaign-Decatur, Illinois, and WLIO in Lima, Ohio, all of which are top-rated local news stations in their respective markets [3][4] - Gray anticipates closing the transaction in the fourth quarter of 2025, pending regulatory approval and customary closing conditions [4] Group 2 - Gray Media is the largest owner of top-rated local television stations in the U.S., serving 113 television markets and reaching approximately 37% of U.S. television households [6] - The company operates in 78 markets with the top-rated television station and 99 markets with the first or second highest-rated station as of 2024 [6]