Gray Television has reached an agreement with Capital Media Group to acquire WKTB-CD in Atlanta.
The station airs top-tier Spanish and Korean broadcast networks, including Telemundo. The purchase also includes sister company, Surge Digital Media, a full-service, boutique digital agency that excels at multi-cultural, multi-lingual marketing and video production.
According to Nielsen, Gray’s hometown market of Atlanta is the nation’s sixth largest television market overall and the nation’s 23rd largest Hispanic television market. Gray entered the Atlanta media market just a few weeks ago when it bought WGCL and PeachtreeTV as part of its Meredith Corporation transaction.
“We are very excited to add Telemundo Atlanta and Surge Digital to our growing local presence in our hometown. Together, our Atlanta media properties will be better able to grow their local audiences, serve local community groups and provide unparalleled opportunities for local businesses to reach consumers,” said Gray chairman and CEO Hilton Howell. “ Moreover, our Telemundo operations in other markets will benefit from the experiences, expertise and talent that Telemundo Atlanta has developed over the past 13 years as a successful family-owned start-up in a very large and competitive media market.”
Capital is co-owned by Susan Sim Oh and Coline Sim. Gray said Telemundo Atlanta provides the most local news in Spanish in the Atlanta DMA with daily 5:30, 6 and 11 p.m. live newscasts.
“Telemundo Atlanta and Surge Digital Media are looking forward to taking the station and digital agency’s offerings and initiatives to the next level through Gray’s expansive resources,” said Oh. “We know that Gray shares our deep commitment of moving the community forward—and we are excited for the opportunities that Gray will bring to our employees and audiences.”
Gray said the plan is for both Oh and and Sim to join Gray at the closing of the deal. Coline Sim will oversee the station’s operations. Susan Sim Oh will assume a new role guiding strategy, multi-platform operations and expansion across the nation for Gray’s Telemundo Station Group. Susan will report directly to Gray president and co-CEO Pat LaPlatney. Ater the deal closes, Gray will own Telemundo affiliates in 12 markets.