02:20 PM EDT, 07/07/2025 (MT Newswires) -- Gray Media ( GTN ) and E.W. Scripps (SSP) said Monday they have agreed to swap television stations in five small and mid-sized markets, resulting in new duopolies for each group.

The firms said they expect the deals to give them the scale and depth to boost their financial durability. The deals include WSYM in Lansing, Michigan, and KKTV in Colorado Springs, Colorado.

The swap involves the even exchange of comparable assets, with closing expected in Q4, according to the companies.

Shares of Scripps were up over 6%, while Gray was down about 1.7% in recent trading.

Price: 4.84, Change: -0.09, Percent Change: -1.73