Gray Adds North And South Dakota TVs
On Thursday, Gray Television Inc. closed previously announced transactions that add television stations in North and South Dakota to its portfolio — KEVN and its satellite station KIVV from Mission TV. These stations serve as the Fox affiliate for the Rapid City, S.D., market.
Gray also acquired certain assets of KNDX and its satellite KXND, as well as certain assets of low-power stations KNDX-LP and KXND-LP from Prime Cities Broadcasting. These stations serve as the Fox affiliate for Minot-Bismarck, N.D.
Gray also began operating these four stations pursuant to a local marketing agreement with Prime Cities. The LMA will terminate with respect to the full-power stations (but not the LPTVs) upon Gray's acquisition of any other full-power television station in the Minot-Bismarck DMA.
Finally, Gray and Prime Cities have entered into an agreement for Gray to acquire the licenses of KNDX-LP and KXND-LP (but not the full-power stations); the parties anticipate closing on the low-power stations in the second or third quarter of 2014 pending receipt of FCC approval and other customary conditions.
"Today, Gray Television expands into two dynamic Upper Midwest markets that boast great communities, terrific natural resources, and surging economies," said Hilton Howell, Gray's president-CEO. "Today we also begin operating our first stand-alone Fox affiliates, which diversifies our portfolio while offering us new opportunities to leverage our strong commitment to local news in new and exciting ways."