Gray Television will buy two ABC affiliates from SJL...
Gray Television will buy two ABC affiliates from SJL Holdings for $128 million, Gray said in a news release Thursday (http://bit.ly/1x85syy). WJRT-TV Flint, Michigan, and WTVG-TV Toledo “could contribute nicely to political revenue this year as WJRT-TV is the highest…
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ranked TV station in its market, while WTVG-TV is a close second in its market,” said Wells Fargo analyst Marci Ryvicker in an email to investors. “These stations are positioned to capture hot Senatorial, Gubernatorial, and House races in Michigan and hot Gubernatorial and House races in Ohio,” Ryvicker said. Though Gray said the deal is subject to regulatory approval, Ryvicker said it’s unlikely Gray will need a waiver to close the deal. The purchase is expected to close in either Q3 or Q4 of 2014, Ryvicker said.