Former Head to Gray TV to Buy NY Station

Documents filed with the Federal Communications Commission show that NBC affiliate WKTV (Utica, NY) is being bought by Robert S. Prather, Jr., who resigned from the post of President and COO of Gray Television earlier this year.  

The pricetag for the sale: $16 million.

WKTV management declined to comment about the sales rumors over the past several weeks.  when CNYTVNews.com asked for a confirmation or denial of the rumors.

The veil of secrecy was lifted, when the FCC website posted the “Form 314,” filed by current owner Smith Media License Holdings, LLC.  The form, required anytime a station owner wishes to transfer its broadcast license to a different party, indicates that the new owner will be WKTV, LLC of Atlanta, Georgia.  The application says Heartland Media, LLC is the “sole member” of WKTV, LLC, and Prather is the “managing member” of Heartland, with 100% of the company’s votes and 51% of the ownership.

An asset purchase agreement attached to the Form 314 indicates the selling price of $16,000,000, along with pages and pages of legal conditions surrounding the sale.

H/T CNYRadio.com