Three Minnesota TV news stations are set to be under new ownership after their parent company announced its $925 million sale to a firm in Georgia.
Quincy Media Inc. confirmed to shareholders Monday that it's being sold to Atlanta-based Gray Television, Inc., with the sale expected to be confirmed in the second or third quarter of 2021.
The sale includes all of the company's TV properties, with the Minnesota-based stations affected being CBS 3 (KDLH) and KBJR 6 in Duluth, and KTTC in Rochester.
It will increase Gray's ownership in Minnesota from one station to four, with Gray already the owner of Mankato-based KEYC News 12.
KBJR 6 reports that Quincy Media CEO Ralph Oakley said Gray intends to offer everyone currently employed at Quincy-owned stations a job.
In a statement issued Monday, Gray Television CEO Hilton H. Howell, Jr. said: "We are very excited to welcome their dedicated journalists, account executives, and technologists to the Gray family.
"With the addition of these professionals and their stations, Gray will become a stronger company with an even larger platform of high-quality television stations to better serve the public interest first."