ATLANTA—Gray Television has agreed to swap TV stations with Marquee Broadcasting to build a new TV station in Salt Lake City.
In the agreement announced this week, Gray will sell its television stations in the Cheyenne-Scottsbluff and Casper television markets (DMAs 194 and 198, respectively) to Marquee in exchange for Marquee’s FCC permit authorizing the construction of new, unbuilt television station KCBU in the Salt Lake City market (DMA 27).
Neither party will pay additional cash or consideration to fulfill the terms of this swap and the transactions are expected to close simultaneously in the second quarter of 2024 following receipt of regulatory and other approvals, Gray said.
“Marquee is excited to acquire Gray’s leading stations in Wyoming and Western Nebraska. We are looking forward to building on the legacy there,” stated Marquee CEO Patricia Lane.
