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Regulators approve Gray/Raycom merger; deal to close Jan. 1, 2019

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Regulators approve Gray/Raycom merger; deal to close Jan. 1, 2019

Gray Television Inc. expects to ring in the new year with a newly expanded footprint after receiving approvals from the U.S. Department of Justice and the Federal Communications Commission for its pending acquisition of Raycom Media Inc.

The regulators also signed off on the divestment of certain television stations associated with the deal closing. The transactions are expected to close Jan. 1, 2019, Gray said in a news release.

The merger of Gray and Raycom will create the third-largest television broadcast station group in the U.S. with 142 full-power television stations serving 92 markets.