Two television stations in Sioux Falls are about to be married and he dowry is $32.5 million.

According to a statement, Gray Television, which currently owns KSFY-TV will purchase rival station KDLT: "Gray Television, Inc. (“Gray”) (NYSE: GTN and GTN.A) announced today that it has reached an agreement with Red River BroadcastingCompany to acquire KDLT-TV, the NBC affiliate for the Sioux Falls, South Dakota market (DMA 110), for $32.5 million in cash. The acquisition of KDLT-TV would unite the station’sstrong staff and legacy of community leadership with Gray’s KSFY-TV, which serves as the market’s ABC and CW affiliate."

Gray Television has upgraded KSFY-TV over the last few years, moving them from basement studios at the 300 building to new studios and equipment in a prominent area just off of Phillips Avenue in downtown Sioux Falls.

This is not the first city in South Dakota where Gray would own two television stations. In Rapid City, the company purchased and provided upgrades to KOTA-TV and KEVN-TV.

Sources say the KDLT-TV operations will be moved and merged into the KSFY-TV studios.

"Gray owns and/or operates over 100 television stations across 57 television markets that collectively broadcast over 200 program streams including over 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network and the FOX Network," According to brokerage firm Jalil & Company, who oversaw the sale. "Our portfolio includes the number-one and/or number-two ranked television station operations in all of our markets, which collectively cover approximately 10.4 percent of total United States television households."

 


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