WEEK-TV, HOI Being Sold To Atlanta-Based Company
The parent company of WEEK-TV and Heart of Illinois ABC is selling the stations to an Atlanta, Ga.-based broadcasting company.
Quincy Media will sell the stations as part of a $925 million cash deal with Gray Television. It includes stations in 16 markets, several of which will be divested, as Gray already owns stations in those communities.
A station insider says no job cuts are expected at the Peoria-Bloomington NBC/ABC stations as part of the ownership change.
The nearest station Gray currently owns and operates is KWQC-TV, the NBC affiliate in the Quad Cities. WSIL-TV in southern Illinois will be sold as part of the deal.
Gray also will acquire WGEM AM/FM in Quincy, Ill. The Quincy Herald-Whig and Hannibal Courier-Post newspapers will be sold in a separate transaction.
Last Friday, WEEK General Manager Mark DeSantis announced his retirement after more than 23 years with the station. He will stay on in a management advisory role through June 4.
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