Gray says it owns or operates the top-rated television station in 69 markets. Other large independent TV station players include Nexstar Media, E.W. Scripps Co. and Sinclair Broadcast Group. Its revenue in 2020 was about $2.4 billion.
Des Moines, Iowa-based Meredith’s markets also include Phoenix, St. Louis, Nashville and Portland, Oregon.
What it means
“It’s a rapidly consolidating space,” said Michael Depp, editor of TVNewsCheck, which tracks the local TV market. “This puts them in 9 of the top 40 TV markets. This is an arms race for size. It’s really significant.”
Gray has beefed up its in-house production capabilities with investment in Atlanta-based Swirl Films and its own Tupelo Honey banner. It is also recently announced it is buying a major portion of the former GM plant in Doraville with ambitious plans to build a large film and TV production studio. It said it expects to create at least 10 film stages with a focus on e-gaming, digital media and robotics and wants to dub the 128 acres “Studio City.” It also wants to use some of the space for apartments, townhomes, a hotel, corporate offices, restaurants and retail space.
The company will not purchase Meredith’s digital or magazine assets. Meredith will hold onto its National Media Group operating division, which includes a large portfolio of magazines including People, Better Homes & Gardens and Entertainment Weekly.
[Info box text]
WHAT THEY ARE
Here is the list of Meredith TV stations Gray plans to own, with affiliates and Nielsen-designated market size in parentheses:
- WGCL (CBS) / WPCH (Independent), Atlanta (7)
- KPHO (CBS) / KTVK (Independent), Phoenix (11)
- KPTV (FOX) / KPDX (MyNetwork), Portland, Oregon (21)
- KMOV (CBS), St. Louis (23)
- WSMV (NBC), Nashville (29)
- WFSB (CBS), Hartford-New Haven, Connecticut (32)
- KCTV (CBS) / KSMO (MyNetwork), Kansas City, Missouri, (34)
- WHNS (FOX), Greenville-Spartanburg, South Carolina (35)
- KVVU (FOX), Las Vegas, Nevada (40)
- WALA (FOX), Mobile, Alabama (57)
- WNEM (CBS), Flint-Saginaw, Michigan (73)
- WGGB (ABC & FOX) / WSHM-LD (CBS), Springfield, Massachusetts (116)