Gray Media Acquires 10 TV Stations from Byron Allen’s Allen Media Group for $171 million

Gray Media has agreed to acquire 10 television stations from Byron Allen’s Allen Media Group for US$171 million, expanding its footprint into three new markets: Columbus-Tupelo, Mississippi; Terre Haute, Indiana; and West Lafayette, Indiana. The deal also strengthens Gray’s presence in seven existing markets.

The stations include WAAY (ABC) in Huntsville, AL; WSIL (ABC) in Paducah, KY; WEVV (CBS/FOX) in Evansville, IN; WFFT (FOX) in Fort Wayne, IN; WCOV (FOX) in Montgomery, AL; KADN (FOX/NBC) in Lafayette, LA; WTVA (ABC/NBC) in Columbus-Tupelo, MS; WREX (NBC) in Rockford, IL; WTHI (CBS/FOX) in Terre Haute, IN; and WLFI (CBS) in West Lafayette, IN.

The transaction, expected to close by year-end, follows Allen’s recent resolution of a US$10 billion racial discrimination lawsuit against McDonald’s. Though terms were undisclosed, Allen stated the settlement “maintains our business relationship” and acknowledged McDonald’s commitment to supporting Black-owned media.

Allen previously made headlines with a failed $10 billion bid for Disney’s ABC and a separate effort to acquire BET from Paramount, which declined to sell.

The sale underscores Gray Media’s strategic growth in local broadcasting while marking a pivotal moment in Allen’s evolving media portfolio.