Atlanta company to buy Presque Isle TV station
Atlanta-based Gray Television Inc. has reached an agreement to buy WAGM-TV in Presque Isle for $10.25 million, calling it one of the most watched local television stations in the country.
In the company’s Thursday announcement, it said that WAGM-TV is the highest rated station in the Presque Isle designated market area, which is larger than the states of Rhode Island and Connecticut combined and includes a western portion of New Brunswick.
The station, which has two digital channels affiliated with CBS Network and Fox Network, has topped the national charts for its CBS local newscast and for its average all-day ratings, only ranking behind a TV station in Mississippi that is owned by Gray Television, according to the company.
"This transaction presents us with a rare opportunity to acquire a television station with the demonstrated track record of localism and service that WAGM-TV has achieved," Kevin Latek, Gray's senior vice president of business affairs, said in a prepared statement. "We are honored to be trusted with this fine institution, and we look forward to working with the dedicated employees to further enhance its success."
WAGM-TV is being sold by NEPSK Inc.
"The decision to sell WAGM has been a difficult one for us. We have been part of this community for over 30 years, and many of our employees have been with us since the beginning,” Carole Kozloski, president and chief operating officer of NEPSK, said in a prepared statement. “Gray is a broadcast company with similar beliefs to ours, and we are confident they will follow in our footsteps, having the resources to better serve our employees and our local communities."
The deal is expected to close in the third quarter of 2015, pending regulatory and other approvals.
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