Editing WECT (section)

===Sale to Gray Television===
[[File:Wect 2009.png|thumb|WECT logo from 2001 to 2020. An earlier variant was used from 1995 to 2001.]]
On June 25, 2018, [[Atlanta]]-based [[Gray Television]] announced it had reached an agreement to merge with Raycom, with Gray as the surviving company. The cash-and-stock merger transaction valued at $3.6&nbsp;billion – in which Gray shareholders would acquire preferred stock currently held by Raycom – made WECT a sister station to fellow NBC affiliate [[WITN-TV]] in Washington. WITN-TV and WECT had briefly been sister stations when Raycom was formed in 1997. However, Raycom was forced to sell WITN to Gray in 1997 because WITN's signal has city-grade quality in the northern portion of the Wilmington market. At the time, the [[FCC]] normally did not allow one company to own two stations with overlapping signals, and would not even consider a waiver for a city-grade overlap.<ref>{{cite press release|title=GRAY AND RAYCOM TO COMBINE IN A $3.6 BILLION TRANSACTION|url=https://www.raycommedia.com/gray-and-raycom-to-combine-in-a-3-6-billion-transaction/#amnewsers|website=[[Raycom Media]]|date=June 25, 2018}}</ref><ref name="graycom">{{cite web|url=http://www.tvnewscheck.com/article/114556/gray-to-buy-raycom-for-36-billion|title=Gray To Buy Raycom For $3.6 Billion|last=Miller|first=Mark K.|work=TVNewsCheck|publisher=NewsCheckMedia|date=June 25, 2018|access-date=June 25, 2018}}</ref><ref>{{cite web|title=Gray Buying Raycom for $3.6B|url=https://www.broadcastingcable.com/news/gray-buying-raycom-for-3-6b|first=John|last=Eggerton|periodical=Broadcasting & Cable|publisher=NewBay Media|date=June 25, 2018}}</ref><ref>{{cite web|title=Gray Acquiring Raycom For $3.65B, Forming No. 3 Local TV Group|url=https://deadline.com/2018/06/grey-acquiring-raycom-for-3-65-billion-forming-no-3-local-tv-group-1202416667/|first=Dade|last=Hayes|website=[[Deadline Hollywood]]|date=June 25, 2018}}</ref> The sale was approved on December 20 and completed on January 2, 2019.<ref>[https://www.broadcastingcable.com/news/fcc-ok-with-gray-raycom-merger "FCC OK with Gray/Raycom Merger"], [[Broadcasting & Cable]], December 20, 2018. Retrieved December 20, 2018.</ref><ref>[https://gray.tv/uploads/documents/pressreleases/Press%20Release%20re%20Completion%20of%20Raycom%20Acquisition.pdf "Gray Completes Acquisition of Raycom Media and Related Transactions"], [[Gray Television]], January 2, 2019. Retrieved January 2, 2019.</ref>