Deal includes sale of KREX-TV parent company
Atlanta-based Gray Television will own two of the four Grand Junction television stations affiliated with a major network after a deal worth more than $340 million closes sometime before June 30, 2014.
Excalibur Broadcasting, managed by former Gray Television regional vice president, Don Ray, will own the other two.
The deal announced today includes KREX-TV, whose parent company is Hoak Media.
A deal announced in August revealed that the parent company that owns KKCO-TV Channel 11 — Gray Television Inc. — and Excalibur Broadcasting bought KJCT-TV Channel 8, for a total purchase price of $12 million.
Read the full story in the Thursday edition of the Daily Sentinel.