The Federal Communications Commission (FCC) today granted a waiver of its local ownership rules, allowing Gray Media to acquire KXLT-TV (FOX) in the Rochester, Minnesota, television market. Gray Media already owns KTTC-TV (NBC) in the same market, and this approval marks the first new combination of two full-power, top-four ranked, same-market television stations in over five years.
The FCC’s Media Bureau’s decision and grant came just two months after the parties applied for approval, representing what appears to be the shortest processing time for a duopoly waiver in Commission history. This swift approval signals a potentially more favorable regulatory environment for in-market consolidation within the broadcasting industry.
Kevin Latek, Gray’s Chief Legal and Development Officer, expressed appreciation for the FCC Media Bureau’s consideration and its recognition of the competitive marketplace faced by local television stations. Gray Media anticipates leveraging the combined resources of KTTC-TV and KXLT-TV to enhance services for viewers in the Rochester market, strengthening its local presence and operational efficiencies.
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