Gray to Buy 2 Stations for $85 Million

Gray Television has reached an agreement to buy two Diversified Communications stations for $85 million.

In the deal, Gray is picking up WABI in Bangor, Maine and WCJB in Gainesville, Florida.

“We are honored to be selected by Diversified as the new owners of legacy stations WABI and WCJB,” said Hilton H. Howell, Jr., Gray’s chairman & CEO. “Both stations are highly valued institutions in their respective communities with dedicated employees who share our vision and culture. We look forward to building upon these strong foundations and enviable records of success.”