KKCO-TV has been purchased by Gray Television, Inc. The acquisition was completed on Tuesday. Gray Television, Inc. now owns 31 stations in the United States.
Through its acquisition strategy, Gray seeks out television stations that are number one in their markets, have strong local news programming and are located in growing markets. KKCO-TV has all of these characteristics.
The purchase price for the acquisition was $13.5 million and Gray used a portion of its cash on hand to fully fund the acquisition.
Gray Television, Inc. is a communications company headquartered in Atlanta, Georgia, and currently operates 16 CBS-affiliated television stations, eight NBC-affiliated television stations, seven ABC-affiliated television stations and five daily newspapers.
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