- Gray Television (NYSE:GTN -2.2%) is acquiring a pair of stations in Clarksburg, W.Va., for $26.5M.
- The broadcaster is taking over WDTV, a CBS affiliate, and WVFX, a Fox affiliate, in a cash transaction with Withers Broadcasting.
- Withers has been able to operate the two in the market as a legal duopoly, under the FCC's Failing Station Waiver. Gray says it will continue that arrangement.
- WDTV is the No. 2 station in Clarksburg's DMA. The purchase price is about 5.9 times a blended average of the stations' expected broadcast cash flow for 2015-2016, adjusted for synergies.
- Now read Gray Television - Benefits Of Recent Acquisition Overlooked »