Excalibur Buys WQCW, Sets SSA With Gray
Gray Television Inc. announced Friday that it has agreed to enter into a shared services agreement with Excalibur Broadcasting for WQCW and and WOCW-LP, Charleston, W.Va. (DMA 65).
WQCW is the CW affiliate for Charleston/Huntington, W.Va. (DMA 65), where Gray owns NBC affiliate WSAZ. Under this agreement, Gray has agreed to provide back-office services and limited programming to WQCW.
Earlier in the day, Excalibur reached an agreement with Lockwood Broadcast Group ("Lockwood") to purchase all of the assets of WQCW-TV for $5.5 million. Gray and Excalibur will begin the shared services agreement upon Excalibur's purchase of WQCW.
Excalibur's President and owner, Don Ray, is a resident of Huntington, W.Va., and the former long-time general manager of WSAZ-TV. He said, "Acquiring the Tri-State's CW while simultaneously leveraging the resources of WSAZ for WQCW's benefit presents an incredible opportunity to provide better service for area viewers and local businesses.”
The parties expect the transactions to close following receipt of FCC consent and satisfaction of other closing conditions in the first quarter of 2014. Additional terms were not disclosed.