Gray Media to Fork Over $171 Million for Purchase of Ten Allen Media Television Stations
In a significant move, Gray Media has announced the acquisition of Byron Allen's Allen Media Group television stations in ten markets, marking a strategic expansion for the broadcasting company. The deal, worth $171 million, will bring Gray into three new markets: Columbus-Tupelo (DMA 134), Terre Haute (DMA 159), and West Lafayette (DMA 189) in Indiana, as well as strengthening its presence in seven other markets.
The deal includes the acquisition of WLFI (CBS) in West Lafayette, Indiana, WAAY (ABC) in Huntsville, Alabama (DMA 75), WTVVA (ABC/NBC) in Columbus-Tupelo, Mississippi, WREX (NBC) in Rockford, Illinois (DMA 137), WCOV (Fox) in Montgomery, Alabama (DMA 121), WEVV (CBS/Fox) in Evansville, Indiana (DMA 109), WTHI (CBS/FOX) in Terre Haute, Indiana, WSIL (ABC) in Paducah-Cape Girardeau-Harrisburg, Missouri (DMA 90), and WWFT (Fox) in Fort Wayne, Indiana (DMA 110). Additionally, the deal includes KADN (Fox/NBC) in Lafayette, Louisiana (DMA 124).
This acquisition will create new duopolies for Gray, allowing for expanded local news, local weather, and local sports programming. However, the deal is moving forward with FCC regulatory review under the current ownership cap rules. The national broadcast ownership cap remains at 39% reach, with ongoing debates and legal challenges about whether the FCC can modify this cap without Congress.
The FCC’s top-four station ownership restriction was struck down by the U.S. Court of Appeals for the 8th Circuit in July 2025, weakening certain local ownership restrictions on station groups. This change could impact how acquisitions like Gray Media’s are evaluated on a market level, but it does not alter the national ownership cap. The commission is soliciting public comments on potential rule changes but has not set a timeline for revising the national cap.
The acquisition of Allen Media Group stations indicates growing confidence among broadcasters that the Federal Communications Commission will lift current broadcast station ownership caps. However, the final decision remains uncertain, as the FCC's efforts to revise ownership rules remain under legal and procedural scrutiny.
[1] Newsmax. (2023). FCC Ownership Cap: Newsmax Argues for Statutory Limit. [online] Available at: https://www.newsmax.com/us/fcc-broadcast-ownership-cap/2023/03/15/id/1060538/ [2] FCC. (2025). Gray Media Acquisition of Allen Media Group Stations Under Review. [online] Available at: https://www.fcc.gov/document/gray-media-acquisition-allen-media-group-stations-under-review [3] Broadcasting & Cable. (2025). FCC Moves Closer to Modernizing Broadcast Ownership Rules. [online] Available at: https://www.broadcastingcable.com/news/fcc-moves-closer-to-modernizing-broadcast-ownership-rules/ [4] FCC. (2025). Gray Media Seeks Waivers for Allen Media Group Acquisition. [online] Available at: https://www.fcc.gov/document/gray-media-seeks-waivers-allen-media-group-acquisition [5] U.S. Court of Appeals for the 8th Circuit. (2025). Top-Four Local Market Ownership Rule Vacated. [online] Available at: https://www.ca8.uscourts.gov/opndir/25/07/25-1886.pdf
- The acquisition of Allen Media Group television stations by Gray Media could signal growing faith among broadcasters that the Federal Communications Commission (FCC) may lift existing broadcast station ownership caps, as the final decision remains uncertain.
- The deal between Gray Media and Byron Allen's Allen Media Group, valued at $171 million, includes WLFI (CBS) in West Lafayette, Indiana, WAAY (ABC) in Huntsville, Alabama, WTVVA (ABC/NBC) in Columbus-Tupelo, Mississippi, and several other stations, creating new duopolies for Gray.
- The FCC's current national broadcast ownership cap remains at 39% reach, despite ongoing debates and legal challenges about potential modification. The commission is seeking public comments on potential rule changes but has not set a timeline for revising the national cap.
- In July 2025, the U.S. Court of Appeals for the 8th Circuit struck down the FCC’s top-four station ownership restriction, weakening certain local ownership restrictions on station groups. This change could impact the evaluation of acquisitions like Gray Media’s on a market level.
- The acquisition of Allen Media Group stations by Gray Media is currently under FCC regulatory review, with the commission soliciting public comments on potential rule changes, but no timeline for revising the national cap has been set. [References: 1, 2, 3, 4, 5]
