Gray Television announced they are buying up Yellowstone stations.
If you haven't heard of Yellowstone, it's a good bet because their stations are in tiny TV markets.
Gray is buying up:
KGNS Laredo, Texas (DMA 184). Its channels are affiliated with NBC, CW and Telemundo.
KGWN Cheyenne, Wyo.-Scottsbluff, Neb. (DMA 196). Its channels are affiliated with CBS and CW. KGWN extends throughout the market via KSTF Scottsbluff, Neb., and K19FX Laramie, Wyo.
KCHY-LP Cheyenne-Scottsbluff (NBC). It will now integrate its operations with KGWN.
KCWY Casper, Wyo. (DMA 197). Its primary channel is affiliated with NBC.
Gray is getting the full lot for just under $25 million bucks.
Time for the obligatory soundbites:
"Gray is thrilled to have the opportunity to expand into three new, dynamic markets through the acquisition of Yellowstone's terrific television stations," said Hilton Howell, Gray's CEO and president. "We look forward to working with the strong teams in each of these markets to enhance their leading local positions even further," he added.
Kevin Latek, Gray's SVP for business affairs, said: "Gray's acquisition of Yellowstone will add three more No. 1 stations to what we believe is already the largest collection of top television stations in the industry. As such, the transaction is consistent with Gray's strategy of enhancing shareholder value through select acquisitions of market-leading stations that share the culture and values of our existing television stations."