Atlanta TV: Gray TV Wants to Acquire CMG's WSB-TV

Atlanta-based Gray Media has expressed interest in acquiring WSB-TV Channel 2 Action News if its parent company, Cox Media Group (CMG), decides to sell. according to a story in the CMG-Owned Atlanta Journal-Constitution. 

Gray CEO Hilton Howell described the potential acquisition as “an option and a possibility” during an interview about WANF-TV, Gray’s CBS affiliate transitioning to an independent station this summer.

WSB-TV, Atlanta’s oldest broadcaster and a prominent ABC affiliate, is owned by CMG, which is controlled by Apollo Global Management Inc., with Cox Enterprises holding a minority stake.

Bloomberg reported in March that Apollo is considering selling CMG, which includes TV and radio stations across major U.S. markets. Apollo reportedly prefers a single buyer for most of CMG’s assets rather than dividing them. Gray and Nexstar Media Group are among potential buyers eyeing CMG’s TV stations.

Gray, a major U.S. broadcaster, operates in 113 markets, reaching about 37% of U.S. households, with Atlanta as its largest market. It owns WANF, PeachtreeTV, and Telemundo Atlanta. Adding WSB-TV, the city’s top-rated station, would strengthen Gray’s portfolio, especially as traditional TV viewership declines.

Any acquisition would require Federal Communications Commission approval. FCC rules prohibit one entity from owning two top-four ranked stations in the same market or stations with non-overlapping digital noise limited service contours, defined as areas where at least 50% of residents receive the signal most of the time.