ATLANTA, Ga.—Gray Television, Inc. has reached an agreement with Capital Media Group, LLC to acquire WKTB-CD, which carries leading Spanish and Korean broadcast networks, including Telemundo, and its sister company, Surge Digital Media, a service comprehensive, boutique digital agency focused on multicultural and multilingual marketing and video production.
Financial terms of the deal were not disclosed.
Gray entered the Atlanta media market, which is the sixth-largest television market and the 23rd-largest Hispanic market, just a few weeks ago with its acquisition of CBS46 and PeachtreeTV as part of its transaction. with Meredith Corporation.
“We are very pleased to add Telemundo Atlanta and Surge Digital to our growing local presence in our hometown,” said Gray’s President and CEO, Hilton Howell. “Together, our Atlanta media properties will be better able to grow their local audiences, serve local community groups, and provide local businesses with unprecedented opportunities to reach consumers.” Additionally, our Telemundo operations in other markets will benefit from the experience, expertise and talent that Telemundo Atlanta has developed over the past 13 years as a successful family-owned start-up in a very large media market. and competitive.
Capital Media, which does business as Telemundo Atlanta, is jointly owned by Susan Sim Oh and Coline Sim. She launched Operation Telemundo in 2009.
Through their leadership, Telemundo Atlanta was the first local Spanish-language television station to win back-to-back the coveted “Overall Station Excellence” Emmy Award from the National Academy of Arts and Sciences Southeast Region in 2013. , 2014, 2016 and 2017 as well as News Excellence Emmy Awards in 2017 and 2019 and Best Newscast Emmy Awards in 2014, 2017, 2018, 2019 and 2021. Over the past 10 years, Telemundo Atlanta has won 61 Emmy Awards. Today, Telemundo Atlanta provides the most local news in Spanish in the Atlanta DMA with daily live newscasts at 5:30 p.m., 6 p.m., and 11 p.m.
Surge Digital Media, launched three years ago, won the Atlanta Marketers of the Year (AMY) award for the prestigious PPC/Paid Search category presented by the Atlanta Marketers Association of Atlanta in 2021.
The parties anticipate that Susan Sim Oh and Coline Sim will join Gray at the closing.
Coline will oversee station operations. Susan will take on a new role guiding strategy, cross-platform operations and nationwide expansion for Gray’s Telemundo Station Group. Susan will report directly to Gray’s President and Co-CEO Pat LaPlatney. Upon closing of this transaction, Gray will own Telemundo subsidiaries in 12 markets, including the largest subsidiary in the eastern United States, as well as 7 markets in Texas, Gray said.
“Telemundo Atlanta and Surge Digital Media look forward to taking the station’s and digital agency’s offerings and initiatives to the next level with Gray’s vast resources,” said Susan Sim Oh. “We know Gray shares our deep commitment to advancing the community and we are excited about the opportunities Gray will bring to our employees and audiences.”
The parties expect to close the transaction after receiving regulatory and other approvals in the coming months.