$3.6B deal creates group with properties in 91 TV markets

Gray Television said it completed its $3.6 billion acquisition of Raycom Media.

The combined company owns stations and digital properties in 91 TV markets including 150 affiliates of CBS, NBC, ABC and Fox.

As part of the deal, Gray sold off nine stations in markets where it overlaps with Raycom.

Gray’s Hilton Howell was named executive chairman and CEO of the combined company and Pat LaPlatney, who had been president and CEO of Raycom,

LaPlatney and his predecessor at Raycom Paul McTear joined Gray’s board of directors.

Bob Smith, who had been Gray’s COO, local media, now reports to LaPlatney.

Raycom’s Sandy Breland and Brad Streit join Matt Jaquint, Mike King, Nick Matesi and Chris Mossman as senior VPs, local media.

Dave Burke, formerly of Raycom, is Gray’s new senior VP and chief technology officer. Dianne Wilson, also formerly of Raycom, is Gray’s new VP, employee relations, and she will work closely with Jan Goldstein who continues as Gray’s VP, human resources. Greg Conklin continues in his role as Gray’s VP, programming