Gray Television Acquiring Yellowstone Television For $23 Million

Gray Television has agreed to acquire Yellowstone Television’s four stations for $23 million. The transaction gives Gray a total of 49 stations, reaching 7.7% of U.S. TV households.

The four stations are KGNS in Laredo, Texas; KGWN and KCHY in in Cheyenne, Wy.; and KCWY in Casper, Wy.

“This group of stations is distinguished by their demonstrated market success and commitment to their local communities. While selling the group was a difficult decision, Gray Television will provide these stations and their fine employees with tremendous opportunities to build upon their successes,” Yellowstone president Jason Wolff said in a statement.