Gray Media Expands in Louisiana with KATC-TV Acquisition

Lafayette, Louisiana – Gray Media Expands Louisiana Presence with KATC-TV Acquisition

Gray Media, Inc. has announced its agreement to acquire KATC-TV, the ABC affiliate in Lafayette, Louisiana. This strategic acquisition allows Gray Media to enhance its footprint by establishing a presence across all seven television markets within the state.

Gray Media’s existing portfolio in Louisiana includes several other stations. These include WAFB-TV in Baton Rouge, WVUE in New Orleans, KPLC-TV in Lake Charles, KALB-TV in Alexandria, KNOE-TV in Monroe, and KSLA-TV in Shreveport. The addition of KATC-TV strengthens Gray’s dominance in the region and further cements its role as a key player in Louisiana’s broadcasting landscape.

The acquisition is part of a broader agreement between Gray Media and The E.W. Scripps Company, which involves swapping television stations across five mid-sized and small markets. As part of the transaction, Gray will also add WSYM, a Fox affiliate located in Lansing, Michigan. This will create a duopoly with WILX, an NBC station already owned by Gray Media.

Pat LaPlatney, President and Co-CEO of Gray Media, expressed that the transaction is mutually beneficial and will create added value for both companies involved. The acquisition is anticipated to lead to an expansion of the news staff at KATC-TV along with an increase in local newscast hours once the deal is finalized.

The operational aspects of the transaction have not been tied to cash exchanges; instead, it is structured as an even exchange of assets based on their performance metrics. This strategic move aims to bolster the market positions of both Gray and Scripps, thereby improving local news and sports programming for viewers in these markets.

Following the acquisition, Scripps will gain Gray Media’s KKTV (CBS) located in Colorado Springs, in addition to other stations within Colorado and Idaho. This exchange is designed to enhance Scripps’ regional presence in the Western United States, addressing the potential for growth and service improvements in those areas.

To proceed with the acquisition, both companies will seek regulatory approvals, which are necessary for the completion of the transaction. The deal is expected to close in the fourth quarter of the year, contingent upon meeting these regulatory requirements. Both Gray Media and Scripps have indicated a commitment to collaborate with regulators and stakeholders to ensure a smooth transition of the stations involved in this exchange.

The acquisition of KATC-TV not only underscores Gray Media’s commitment to providing comprehensive local news and sports media coverage but also highlights the ongoing trend of consolidation in the broadcasting industry. By leveraging its expanded resources, Gray Media aims to enhance viewer engagement through increased news coverage tailored to the needs of local audiences.

With this acquisition, Gray Media not only strengthens its own portfolio but also contributes to the evolution of media delivery within Louisiana and beyond. The company’s strategic acquisitions reflect an adaptive approach to the changing media landscape, ensuring that it remains a prominent source of news and information in the markets it serves.

ADD MORE INFORMATION OR CONTRIBUTE TO OUR ARTICLE CLICK HERE!