Byron Allen’s Allen Media Group, LLC (AMG) has completed its $380 million cash acquisition of 10 local television stations in seven markets divested from the Gray Television, Inc (Gray) transaction with Quincy Media, Inc. (Quincy). AMG also owns 12 television networks including The Weather Channel and the free-streaming service Local Now. AMG was founded by Byron Allen in 1993.
The acquisition substantially increases the size of the AMG broadcast television group and adds complimentary markets to its existing portfolio. The AMG broadcast television group now includes 25 broadcast television stations in 19 markets across the country.
As part of its divestiture agreement, Gray agreed to sell to AMG 10 television stations owned by Quincy, each of which operates in a market in which Gray also owns and operates a television station. These 10 major network-affiliated stations now joining the AMG television station portfolio include:
KVOA (NBC), Tucson, Arizona (DMA 64)
WKOW (ABC), Madison, Wisconsin (DMA 81)
WSIL / KPOB (ABC), Paducah, Kentucky-Harrisburg, Illinois (DMA 84)
KWWL (NBC), Cedar Rapids, Iowa (DMA 92)
WXOW / WQOW (ABC), La Crosse-Eau Claire, Wisconsin (DMA 129)
WAOW / WMOW (ABC), Wausau-Rhinelander, Wisconsin (DMA 136)
WREX (NBC), Rockford, Illinois (DMA 139)
“I truly appreciate Gray and Quincy, two of the best broadcast groups in the business, working with us to acquire and transfer these amazing assets. Over the past year-and-a-half, we have invested close to $1 billion to acquire best-in-class, top-tier, broadcast network affiliates,” said Byron Allen, Founder/Chairman/CEO of Allen Media Group. “We plan to invest approximately ten billion dollars to acquire more ABC, CBS, NBC, and FOX television stations over the next two years with the goal of being the largest broadcast television group in America. All of our media assets, including these broadcast television stations, will work in concert to amplify our free-streaming service, Local Now.” PR Newswire