Gray Media Expands Portfolio with $80M Purchase of Three Stations
Gray Media completed a transaction to acquire three local television stations from Block Communications for $80 million, adding operations in Louisville, Kentucky; Springfield-Decatur, Illinois; and Lima, Ohio. The deal expands Gray Media’s portfolio to 120 full-power markets, boosting its reach to approximately 37% of U.S. television households.
1. Gray Media Closes $80 Million Station Acquisition
Gray Media completed an $80 million purchase of three local television stations from Block Communications in Louisville, Kentucky; Springfield-Decatur, Illinois; and Lima, Ohio. The deal was finalized May 6, 2026, and immediately integrates established news operations in these mid-sized markets.
2. Expands Market Reach and Ratings Profile
This acquisition boosts Gray Media’s holdings to 120 full-power television markets, strengthening its status as the largest owner of top-rated local stations reaching 37% of U.S. TV households. The newly added stations are expected to drive incremental advertising revenue and enhance network affiliation synergies.