KXXV-TV will soon have a new owner.
The E.W. Scripps Company has agreed to purchase KXXV/KRHD and WTXL-TV in Tallahassee, Florida from Gray Television for $55 million, according to a press release.
In a statement released by Gray Television, Inc., the sale is part of a move to divest 9 stations across the country ahead of a planned merger with KXXV-TV’s parent company, Raycom Media.
By divesting the 9 stations, the station group hopes to comply with regulatory requirements ahead of the sale. Gray Television will continue to own and operate CBS affiliate KWTX-TV.
It’s not yet clear when the transaction will be completed.
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