Gray Media has finalized its acquisition of a group of local television stations previously owned by Allen Media Group, including Huntsville’s WAAY-TV, after receiving federal regulatory approval.
The company announced Friday that the acquisition closed in two phases: three stations transferred in late March following initial Federal Communications Commission approval, with the remaining seven stations completing the transfer process on May 1.
Announced last fall, the $171 million transaction includes 10 stations across multiple markets. The FCC initially approved the transfer of broadcast licenses for WLFI-TV in West Lafayette, Indiana; WTHI-TV in Terre Haute, Indiana; and WTVA in Tupelo, Mississippi, in March.
In the Huntsville market, the acquisition brings WAAY under the same ownership as WAFF 48, which Gray already operates, creating a duopoly.
Company officials have said the expanded footprint is expected to strengthen local coverage through additional resources for news, weather and sports programming.
Allen Media Group, founded by media entrepreneur Byron Allen, began selling stations last year amid broader strategic changes. The company drew attention during that period over a proposal to replace local meteorologists with centralized forecasts from The Weather Channel, a plan it later reversed following viewer and advertiser backlash.
The broader deal also includes stations in markets such as Montgomery; Evansville, Indiana; Fort Wayne, Indiana; and Lafayette, Louisiana, among others.
