Gray Media and Allen Media Group close $171M station deal expanding Gray's market reach

Gray Media and Byron Allen's Allen Media Group finalized transactions totaling $171 million, acquiring television stations in 10 markets. Gray Media expanded into three new markets on March 26, 2026, and completed purchases in seven overlapping markets on May 1, 2026. This deal strengthens Gray Media's position as a leading owner of local TV stations, reaching 37% of U.S. TV households. The acquisition enhances Gray's portfolio across top-rated stations and digital media assets, supporting growth in broadcast and digital marketing services.