Here's a deal that's full of American Spirit, fueled by FCC "modernization." Raycom Media has forged an agreement with a longtime shared services agreement partner that would give it an Iowa TV station it could not legally obtain 15 years ago, when it owned another crosstown station. At the same time, Raycom is grabbing The CW affiliate serving the capital of the Old Dominion. Both stations will eventually wind up in the hands of Gray Television.

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