What Is An Lma Agreement
On June 13, 2014, Gray Television announced the closure of six stations and the consolidation of existing programs on Gray`s channel sub-chains in their respective markets. But unlike Sinclair, Gray stated that it would sell the licenses of the closed channels to subsidiaries, in collaboration with the Minority Media and Telecommunications Council, on the condition that they operate them independently of the other channels on the market without agreement. The six stations were owned by companies other than Gray, but their non-licensing assets are either owned by Gray or operated by stations that are now owned by Gray under agreements. Gray would operate the stations under LMA until the end of the sale and consolidation. Aside from one, most of the stations involved in these changes were related to Gray`s acquisition of Hoak Media stations. Three of these stations were immediately closed on the same day, while the remainder were operated by Gray until the end of the sale.    Gray announced on August 27, 2014 buyers for the stations.  In North American radio, a local marketing agreement (LMA) or local administrative agreement is a contract in which a company agrees to operate a radio or television station owned by another party. Basically, it`s a kind of leasing or time-buy.
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