Gray Media to Buy 6 TV Stations From American Spirit for $50M
Gray Media is acquiring six television stations from American Spirit Media in a $50 million deal, expanding its local broadcast footprint.
Gray Media (GTN) is making a move to grow its broadcast empire by striking a deal to acquire six TV stations from American Spirit Media for $50 million in total consideration. If you follow the local TV business, you know consolidation has been the name of the game for years, and this deal fits squarely into that trend.
For Gray Media, picking up six additional stations means more markets, more local ad revenue potential, and a bigger seat at the table when negotiating with cable and satellite providers. Local television might not be the flashiest industry right now, but owning the news station people flip on during a storm or a big local election still carries real value.
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At $50 million for six stations, the math works out to roughly $8.3 million per station on average — which is pretty modest by broadcasting standards. That suggests these may be smaller-market properties, though the specific markets involved weren't detailed in the announcement. For American Spirit, the sale could represent a strategic exit or a way to raise capital and focus resources elsewhere.
Gray Media has been one of the more aggressive acquirers in the local TV space over the past decade, building a portfolio that stretches across dozens of markets nationwide. Adding six more stations keeps that growth story going, even as the broader media landscape wrestles with cord-cutting and shifting ad budgets toward digital platforms.
Deals like this one are worth watching because they shape who controls local news and information in communities across the country — something that matters well beyond the balance sheet. Continue reading at Yahoo Finance.
