PORTLAND (AP) — Maine’s oldest television station is expected to be sold to a Georgia media company for $85 million.
The Portland Press Herald (http://bit.ly/2lTs74j ) reported Diversified Communications will divest itself of WABI in Bangor. Atlanta-based Gray Television Inc. would add the station to its portfolio of about 100 television stations that it owns and/or operates in more than 50 markets.
WABI began broadcasting in 1953. It carries programming from CBS and The CW. The station was once owned by former Maine Gov. Horace Hildreth.
Hildreth’s grandson Daniel Hildreth is Diversified’s board chair. He calls the sale “a very difficult decision.”
The Federal Communications Commission must approve the sale.
Diversified is also selling WCJB, a station it owns in Gainesville, Florida.
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