Gray/Raycom Merger Thread in General TV Posted July 2, 2018 2 questions. 1. Why would KGMB or KHNL be sold? Gray owns no other stations in the market, so why would a station be spun? If Gray get's legally absorbed into into Raycom, doesn't the legal standing (I assume the duopoly of KGMB and KHNL was developed under a failing station waiver) still abide? 2. Couldn't WSWG's new owner, like Nexstar, just develop an SSA to keep WALB and WSWG under the same roof with WCTV and continue the larger CBS EWN brand across multiple markets? Why develop new news and sales infrastructure costs when you don't have to? 1. KGMB and KHNL may both be in the top four, requiring a divestiture. KGMB swapped licenses with KFVE (which wasn't in the top four) in 2009 to form the duopoly with KHNL. Gray shareholders will control 89 percent of the merged company, causing the merger (for the purposes of the Raycom stations) to be classified as a "substantial" (50 percent or greater) of control under FCC rules, requiring a reevaluation of compliance with ownership rules. 2. That may raise an issue with the DOJ, since it would result in an increase in Gray's market share and they have control over three out of the four major network affiliations in Albany.