Gray and Scripps Agree to Swap 7 Stations in 5 Markets, Need Waivers

Gray Media and E.W. Scripps have agreed to a swap of TV stations that would involve seven stations in five markets and create new duopolies for both companies, said a Gray release Monday. Media brokers told us that a wave of such swaps has been anticipated (see 2505150056) since the FCC signaled in March a new willingness to waive its prohibition against top-four duopolies (see 2503120066). The Media Bureau approved a Sinclair deal involving a top-four waiver last week (see 2507010073).

Under the proposed deal announced Monday, Gray would acquire Scripps' Fox affiliate WSYM-TV Lansing, Michigan -- where Gray already owns an NBC station -- and ABC affiliate KATC Lafayette, Louisiana. In exchange, Scripps would receive three full-power and two low-power Gray stations: CBS affiliate KKTV Colorado Springs; NBC affiliate KKCO Grand Junction, Colorado, and its low-power sister station, KJCT-LP (ABC); and full-power CBS affiliate KMVT Twin Falls, Idaho, and low-power KSVT-LD (Fox) in the same market. Scripps already owns top-four stations in Colorado Springs and Twin Falls.

“The regulatory approvals will require certain waivers of outdated local ownership restrictions that have uniquely restricted local broadcasters’ ability to compete in today’s dynamic and highly competitive media environment,” said the Gray release. The swap “involves the even exchange of comparable assets” and no cash, it added.