Gray to acquire WKTB-CD from Telemundo Atlanta

Gray Television Inc. agreed to acquire Spanish and Korean network broadcaster WKTB-CD in Atlanta from Capital Media Group LLC, doing business as Telemundo Atlanta.

WKTB-CD also broadcasts Telemundo and has a reach of over 1 million viewers.

The financial details of the proposed deal, which also includes sister company Surge Digital Media, were not disclosed.

Capital Media co-owners Susan Oh and Coline Sim are expected to join Gray at the closing of the deal. Sim will oversee the station's operations while Oh will assume a new role guiding strategy, multiplatform operations and expansion across the country for Gray's Telemundo Station Group.

At closing, which is expected in a few months, Gray will own Telemundo affiliates in 12 markets, including in the eastern U.S., as well as 7 markets in Texas.