6 days ago, FTVLive told you that the DOJ has signed off on the Gray and Raycom deal and yesterday the FCC did the same.
That means that the deal will be closed by the end of the year and another consolidation will take place.
People will lose their jobs and the news product will suffer. But, Gray suits will line their pockets with cash
Gray will spin off a number of stations in overlapping markets to either Tegna, Scripps or Lockwood.
As the industry gets smaller as stations are gobbled up into the mega groups, it will be a big blow to Journalism.
Most of these groups are not exactly the “pillars of Journalism” and for them it is all about the bottom line and saving money.
The future of TV news is not looking so bright my friends.