Quincy Media Inc., parent company of Duluth’s CBS 3 and Superior’s KBJR 6, is being acquired by Atlanta-based Gray Television, Inc. for $925 million, according to several Quincy news stations.
The sale includes all of Quincy Media’s television and radio properties, which serve 16 markets, and is expected to close in the second or third quarter of 2021. After the sale, Gray will own television stations in 102 markets across the U.S.
“In looking at the roster of Gray Television stations, there are several in close proximity that will provide us with the potential of greater synergy,” said Todd Wentworth, vice president and general manager of KBJR 6 and CBS 3, in a release from the stations.
The acquisition of Illinois-based Quincy Media will also include KTTC TV in Rochester.
Gray Television owns several other stations in Midwest cities, including Mankato, Minnesota; Fargo and Bismarck, North Dakota; Sioux Falls, South Dakota; Eau Claire, Wausau, Green Bay and Madison, Wisconsin; and Marquette, Michigan.