SIOUX FALLS, SD — Gray Television has received Federal Communications Commission (FCC) approval to acquire six full-power TV stations and one low-power station (along with five satellite stations) in six markets from Hoak Media, the company said it expects to close on the stations this quarter.
However, because of the agency crackdown on joint sales and sharing agreements, other parts of the complex deal involving sidecar companies have been modified and are still under agency review, it said. Last November, Gray announced that it and sidecar Excalibur Broadcasting would acquire all the stations of Hoak and its sidecar Parker Broadcasting for $335 million. In a totally separate deal, Gray said Excalibur would buy the Fox affiliate (and its satellite) in Minot, N.D., from Prime Cities Broadcasting for $7.2 million, however Excalibur withdrew its application to acquire the Prime Cities station in Minot.
The FCC has approved Gray’s acquisition of the following Hoak stations in North Dakota and South Dakota: KSFY-TV Sioux Falls, SD plus satellites KPRY and KABY, KVLY-TV Fargo-Valley City, ND, as well as KFYR-TV plus satellites KMOT, KUMV, and KQCD in the Minot-Bismarck-Dickinson, ND DMA. Other markets include Monroe and Alexandria, LA and North Platte, NE.
The FCC approved Gray’s acquisition of Fox affiliates KEVN-TV and KIVV-TV Rapid City, N.D., from Mission TV, which is unrelated to Nexstar’s Mission Broadcasting. Gray anticipates closing the deal this quarter. The FCC is still reviewing Excalibur’s amended applications to acquire the following stations from Hoak and Parker, including KXJB-TV Fargo-Valley City, ND in addition to stations in Lincoln-Hastings-Kearney, NE and Monroe-El Dorado, LA.
Nexstar and Mission Broadcasting also filed amendments to restructure their transaction involving the Grand Junction stations, Gray said, adding that it couldn’t say when the FCC might act on them.