Quincy Newspapers, Inc. entered into a definitive agreement to acquire the broadcast assets of three television stations from Granite Broadcasting Corporation.

Quincy Newspapers, Inc. entered into a definitive agreement to acquire the broadcast assets of three television stations from Granite Broadcasting Corporation on February 10, 2014. In a related transaction, Quincy also entered into an agreement to acquire one station owned by Malara Broadcasting. The combined transaction value for these four stations is $190 million.

Quincy will also provide operating services to four other stations. The acquired stations include WEEK-TV (NBC) in Peoria/Bloomington, WPTA (ABC/CW) in Ft. Wayne, KBJR (NBC/MyTV) and its satellite, KRII in Duluth; and WBNG (CBS/CW) in Binghamton.

The transaction is subject to federal regulatory approval and antitrust approval and consummation of another deal. The transaction is expected to close later in 2014. As of May 22, 2014, Quincy has received commitment letter for financing the deal.

As on October 1, 2015, the acquisition is expected to close on November 1, 2015. Federal Communications Commission approved the acquisition in September 2015. Wells Fargo Securities, LLC acted as financial advisor for Quincy.

John R. Feore Cooley LLP acted as legal advisor to Granite Broadcasting Corporation. Steven E. Siebers of Scholz, Loos, Palmer, Siebers & Duesterhaus LLP, Mark J. Prak of Brooks Pierce acted as legal advisor to Quincy Newspapers, Inc.