Print
Marketing/Media

Gray's Acquisition Of Raycom Puts WECT Under New Ownership

By Christina Haley O'Neal, posted Jan 3, 2019
Local television station WECT is now under new ownership as part of Gray Television's $3.6 billion acquisition of Raycom Media Inc.

The closing of the sale took effect Wednesday, said Kevin Latek, Gray Television Inc. executive vice president and chief legal and development officer.

Gray Television and Raycom Media announced a deal in late June, according to a news release.

“I think it's safe to say that everybody within Gray is incredibly excited about our future, and we have been chomping at the bit to get to this day,” Latek said Thursday. “Everyone has been dying to get this deal closed and get to work.”

WECT is now one of three North Carolina TV stations owned by Gray Television. The Atlanta-based company also took ownership of WBTV in Charlotte. It previously owned WITN, which serves the Greenville, New Bern, Jacksonville and Washington areas, prior to the acquisition.

Gray Television, with the sale, now has stations in 91 of the 210 markets in the country. Those markets represent 24 percent of TV households in the United States, Latek said.

The markets span from Alaska and Hawaii to Maine and Florida, according to the release.

Mark Mendenhall, WECT’s vice president and general manager, said that the impact of the acquisition will not be seen by local viewers.

“There’s really not much expected as far as impact at the local level. This station has been through a few ownership changes but nothing since the '90s. We still expect to deliver the same quality news and programming,” Mendenhall said.

Ownership of the WECT building, located at 322 Shipyard Blvd., transferred from Raycom Media to Gray Television, he said.

The TV station, which operated for a straight 87-hour period of broadcast news during Hurricane Florence in September, is in the process of internal reconstruction, and repair work to the building's roof will begin next week.

Most of the changes that are taking place are at the corporate level, he added.

With the closing, Hilton Howell became Gray's executive chairman and CEO, and Pat LaPlatney, Raycom’s previous president and CEO, has become Gray’s president and co-CEO, stated the release.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Cfss headshots parker robert webversion 21422121214

The Latest Solar Scams and What You Can Do to Help Stop Them

Robert Parker - Cape Fear Solar Systems
Untitleddesign5

The Impact of a Growth Mindset

John Monahan - Vistage
Dave sweyer 300 x 300

Insights into the 2023 Leasing Market in Wilmington, NC: What You Need to Know

Dave Sweyer - Sweyer Property Management

Trending News

Passenger Rail Study Offers New Details About Proposed Wilmington To Raleigh Route

Emma Dill - Apr 22, 2024

Severe Weather Postpones Trump Rally In Wilmington

Emma Dill - Apr 20, 2024

Will NC Be CNBC's Three-time Top State For Business?

Audrey Elsberry - Apr 22, 2024

In The Current Issue

Bootstrapping A Remote Option

Michelle Penczak, who lives in Pender County, built her own solution with Squared Away, her company that now employs over 400 virtual assist...


Info Junkie: Lydia Thomas

Lydia Thomas, program manager for the Center for Innovation and Entrepreneurship at UNCW, shares her top info and tech picks....


Surf City Embarks On Park’s Construction

“Our little town, especially the mainland area, is growing by leaps and bounds. So having somewhere else besides the beach for kids to go an...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season