MADISON, Wis. (WMTV) - Gray Television’s more than $3.6 billion deal to acquire Raycom Media has received regulatory approvals to move forward.
The Federal Communications Commission and U.S. Department of Justice approved the deal Thursday.
The agreement to combine the companies would make Gray Television the third-largest TV station group in the United States—serving 92 markets, including Madison.
Gray Television is the parent company of WMTV, which serves 11 southern Wisconsin counties—Dane, Rock, Columbia, Sauk, Green, Lafayette, Grant, Iowa, Crawford, Richland, Juneau and Marquette.
“In October 2016, when we moved into a new, state of the art facility, our parent company – Gray Television – made a commitment to Madison. I’m proud that our company continues to grow and invest in other communities,” said Don Vesely, Vice President/General Manager of WMTV NBC15 and CW Madison.
The deal is expected to close Jan. 1, 2019.