The Federal Communications Commission has approved Gray Television’s acquisition of Meredith Corporation’s local TV stations.
In a press release the commission said it approved the assignment of licenses from Meredith to Gray while denying two objections to the acquisition. One of the objections came from Las Vegas company Mr. Antenna, which asked the FCC to block the sale in September saying Meredith stopped airing its ads because it saw the company as a “competitive threat.”
The FCC said it found the informal objections were “without merit” and that approving the license transfers would “serve the public interest, convenience, and necessity.”
With the $2.8 billion sale, which was announced in May, Gray will become the nation’s second largest television broadcaster, serving 113 markets that reach approximately 36% of U.S. television households.
“The television station portfolios, company cultures, and commitments to localism of Gray and Meredith are highly complementary,” Gray executive chairman and CEO Hilton H. Howell said when the deal was announced. “We are very excited to acquire Meredith’s excellent television stations, and we look forward to welcoming its employees into the Gray family.”