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Allen Media Sells 10 Stations to Gray for $171M

8/9/2025

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Summary

Story summary

Allen Media Group sold 10 TV stations to Gray Media for $171 million, located in key markets.
The stations are affiliated with major networks: ABC, Fox, NBC, and CBS.
This transaction is part of Allen's strategy to reduce debt after a $1 billion acquisition spree.
Gray Media aims to enhance local programming and expand its market presence.
The deal requires Federal Communications Commission approval, anticipated by year-end.

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Story summary

Allen Media Group sold 10 TV stations to Gray Media for $171 million, located in key markets.
The stations are affiliated with major networks: ABC, Fox, NBC, and CBS.
This transaction is part of Allen's strategy to reduce debt after a $1 billion acquisition spree.
Gray Media aims to enhance local programming and expand its market presence.
The deal requires Federal Communications Commission approval, anticipated by year-end.