Gray CEO Hails ‘Imminent’ OK of ATSC 3.0, ‘Regulatory Relief’ in Ownership Rules

Gray Television welcomes the FCC's “imminent approval” of ATSC 3.0 deployments (see 1710270063), said CEO Hilton Howell on a Monday earnings call. “By granting broadcasters the freedom to evolve technically, the FCC enables us to embrace a new standard that should open new opportunities for broadcasters, as well as new and better ways to serve our viewers.” This month also will “finally bring regulatory relief from the FCC,” Howell said of plans at commissioners' Nov. 16 meeting to vote in favor of local ownership deregulation. “It’s simply incredible that the FCC imposed the one-to-a-market rule that still governs mid-sized and small television markets before the bombing of Pearl Harbor” in 1941, he said. “No one can sincerely dispute that the world has changed considerably in the past few years, let alone in the last 76 years. We are grateful that the FCC finally will begin to take some long-overdue steps that permit local stations to take the steps necessary to be competitive.” Gray has “benefits of really strong duopoly operations” in its existing markets, said Howell, when asked in Q&A if local ownership deregulation will open up the company to new merger and acquisition opportunities. That’s not to say there won’t be “a great deal more opportunities that we will have in our existing markets,” he said. Gray will “continue to look at other transactions to grow a broader scale throughout the United States,” he said. “Things have been relatively slow on the M&A front,” but the company expects “things to pick up fairly rapidly after the FCC comes to a final conclusion,” he said. “It is our intention to take advantage of that whenever we have an appropriate, and financially appropriate, opportunity to do so.”