Quincy Media, KBJR 6 and CBS 3 Owner, Approves Sale
Quincy Media currently owns KBJR 6 and CBS 3, but if everything works out as planned, the TV stations will have a new owner.
According to KBJR, the shareholders of Quincy Media approved the sale of the company to Gray Television, based in Atlanta, for $925 million in cash. The sale is expected to be completed in the second or third quarter of 2021, of course the sale must be approved by federal regulators.
“In looking at the roster of Gray Television stations, there are several in close proximity that will provide us with the potential of greater synergy,” said Todd Wentworth, KBJR 6 & CBS 3 Vice President & General Manager.
Gray Television is a very old company with roots back to 1897 with the creation of the Albany Herald in Albany, Georgia. By 2002 the company adopted the Gray Television name and currently has TV stations in 93 markets in 36 states, if this sale is approved, they'll add 16 markets currently owned by Quincy Media.
Gray Television currently owns the NBC, FOX, CBS and the CW affiliates in Mankato, Minnesota. Gray Television has a larger footprint in Wisconsin with stations in Green Bay, Eau Claire, Madison, and Wausau.
“We are very excited to welcome their dedicated journalists, account executives, and technologists to the Gray family. With the addition of these professionals and their stations, Gray will become a stronger company with an even larger platform of high quality television stations to better serve the public interest first,” said Hilton H. Howell, Jr., Gray’s Executive Chairman and CEO in a press release.