Tegna Buys Two More Stations

By Stephanie Tsoflias Siegel 

Tegna added two stations to its portfolio on Wednesday.

The company purchased WTOL, the CBS affiliate in Toledo, Ohio, and KWES, the NBC affiliate in Midland-Odessa, Texas, from Gray Television for $105 million cash.

“WTOL and KWES are strong local media brands well-positioned in key markets that further enhance our portfolio of Big 4 affiliates,” said Dave Lougee, president and CEO of Tegna. “We have a strong track record of successful acquisitions and continue to pursue opportunities that create value for our shareholders.”


Tegna now owns 49 television stations in 41 markets. The purchase of KWES deepens the company’s footprint in Texas, where Tegna now owns 12 stations.