Gray Television Acquires WAGM for $10.25 Million

By Aneya Fernando 

New_Gray_304Yesterday, Gray Television announced that it had acquired WAGM, the NEPSK-owned CBS and Fox affiliate in Presque Isle, Maine, for $10.25 million in cash.

“This transaction presents us with a rare opportunity to acquire a television station with the demonstrated track record of localism and service that WAGM-TV has achieved,” said Kevin Latek, Gray’s senior vice president of business affairs. “We are honored to be trusted with this fine institution, and we look forward to working with the dedicated employees to further enhance its success.”

“The decision to sell WAGM has been a difficult one for us,” Carole Kozloski, president and chief operating officer of NEPSK, admitted. “We have been part of this community for over 30 years, and many of our employees have been with us since the beginning. Gray is a broadcast company with similar beliefs to ours, and we are confident they will follow in our footsteps, having the resources to better serve our employees and our local communities.”