WEEK-TV, Heart of Illinois in Peoria area purchased by Gray Television
PEORIA — An Atlanta-based media company is purchasing two Peoria-area television stations as part of a larger deal. Gray Television Inc. is to spend $925 million in cash to acquire TV and radio properties Quincy Media Inc. owns. Among them are WEEK-TV (25) and Heart of Illinois ABC, both based in the same East Peoria facility. The deal was announced Monday morning. It's subject to federal approval and is to close later this year. Quincy Media is based in Quincy. Earlier this year, company officials announced their family-owned, 95-year-old business was for sale. “Many of our shareholde...