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Gray buys KCRG Cedar Rapids for $100M

I don't thing the FCC broke it up; sounds more like the newspaper was offered 100-million cash for its TV station and decided to take the cash. It is sad to see them broken up after being co-owned since 1953. And in the past few years, they were sharing more resources... TV reporters writing articles for the paper, paper reporters featured on TV.

Gazette sold off their AM station some years back to a locally-owned FM, which was a good thing. They had ignored the AM for years.

More on the sale here:
http://www.thegazette.com/subject/news/business/kcrg-tv9-gets-new-owner-20150901
 
The Gazette Company bought out the former Hladky family ownership in 2012 and put it in a trust to benefit employees. $100 million has to be a lot more than the market value of the Gazette. I'm guessing the Gazette Company is now debt free, swimming in cash and definitely free of the carriage fee negotiations with cable and satellite. Hard to be a $100 million minnow in a pond of multi-billion dollar sharks.

Hopefully Gray leaves the Cedar Rapids folks alone. I'd hate to see it become a clone (clown) of Gray's Colorado Springs..
KKTV 11 - YOUR BREAKING NEWS LEADER! And they don't let you forget it.
 
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