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The Great Smoky Mountain Journal

Tuesday, January 01, 2019 03:03 PM

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Local 8 WLVT Purchased By Gray Television, Raycom Media In Atlanta
WVLT will soon become part of the third-largest broadcasting company in the United States, according to a joint news release from Gray Television and Raycom Media.

The transaction is worth $3.6 billion.

This combination will improve the company's reach in Tennessee and the Southeast. Gray presently owns WVLT and WBXX in Knoxville, Tenn.

The combination adds WAVE in Louisville, Ky., WMC in Memphis, WBTV in Charlotte, N.C., WFXG in Augusta, Ga. and WVUE in New Orleans, La.

The company will own a total of 142 stations in 92 markets, according to the news release.

The combination will need regulatory approval before it can happen. The companies expect this to occur by the end of the year