08:32 AM EDT, 08/08/2025 (MT Newswires) -- Gray Media ( GTN ) said Friday it agreed to acquire television stations in 10 markets from Byron Allen's Allen Media Group for $171 million.

The deal will bring it into three new markets -- Columbus-Tupelo, Mississippi; Terre Haute, Indiana; and West Lafayette, Indiana, the company said.

The transaction is expected to close in Q4.

Shares of Gray Media ( GTN ) were down over 5% in recent premarket activity.