|L-R: Bob Brillante, J.C. Watts, and Steve Southerland at
Gray Television President Bob Prather talked about the purchase during a conference on the company’s fourth-quarter 2005 earnings.
“We spent a little more in '05 than we planned, for a couple of reasons,” Prather said. “One, we had a chance to buy a new building down in Tallahassee, an existing facility. A Florida news channel went out of business, and we picked up a fantastic facility probably at 50% of its true market value. It was a fully-equipped TV facility for operating the Florida News Channel, which we basically got the equipment for nothing; it was probably $3 million worth of equipment in the facility.”