WTHI-TV’s building at Eighth and Ohio streets in Terre Haute is shown in this Trib-Star file photo. Gray Media on Friday announced it is buying 10 Allen Media Group stations, WTHI-TV10 among them.
Tribune-Star file/Joseph C. Garza
WTHI-TV, Channel 10 in Terre Haute, soon will have a new owner.
Gray Media Inc. on Friday announced it has reached an agreement with Byron Allen’s Allen Media Group Inc. to acquire AMG television stations in 10 markets for $171 million.
If successfully completed, the transaction will put four Indiana stations under Gray’s ownership: WTHI (CBS/ Fox) in Terre Haute; WEVV in Evansville (CBS/Fox); WFFT (Fox) in Fort Wayne; and WLFI (CBS) in West Lafayette.
Other stations in the sale are WAAY in Huntsville, Alabama; WSIL, serving three markets in Illinois, Kentucky and Missouri; WCOV in Montgomery, Alabama; KADN in Lafayette, Louisiana; WTVA in Columbus-Tupelo, Mississippi; and WREX in Rockford, Illinois.
Gray Media said it anticipates closing the transaction in the fourth quarter of this year following regulatory approval, including waivers of FCC local ownership rules.
Gray says the deal gives it access to three markets new to it: Columbus-Tupelo; Terre Haute and West Lafayette.
The other markets create for the company “new duopolies that would allow Gray to preserve and deepen public service to their communities with expanded local news, local weather and local sports programming,” it said.
National media and the Tribune-Star in June reported Allen Media Group was looking to sell its 28 network-affiliated television stations across the country, WTHI-TV 10 in Terre Haute among them. AMG hired investment banker Moelis & Co. to market its local stations.
At the time, Bloomberg reported that AMG put the value of the stations at about $1 billion. The company said it would use the cash generated by sales to reduce outstanding debt.
The Los Angeles Times on Friday reported, “The move furthers Allen’s retrenchment after a $1-billion buying spree in recent years.
“Allen had a goal of becoming the largest independent television operator in the U.S. But the build-up — which came during an increasingly challenging period for broadcast TV — left the Los Angeles-based company burdened with debt,” wrote Meg James, the Times’ senior entertainment writer.
Gray Media is headquartered in Atlanta, Georgia. It says it is “… the nation’s largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 37 percent of U.S. television households.”
© 2025 Community Newspaper Holdings, Inc.