On February 1, 2021, Gray Television announced that it had entered into an agreement to acquire all Quincy Media television properties for $925 million in a cash transaction. This transaction is pending regulatory approval. If completed, the deal would result in the first ownership change for WGEM-TV since its 1953 sign-on. WGEM-TV would gain several sister stations in many nearby midwestern television markets, including fellow NBC affiliate KWQC-TV in Davenport–Rock Island–Moline. WGEM-TV will be separated from a few of its current Quincy Media sister stations as a result of Gray Television being required to divest stations in markets where both Quincy and Gray own a television station.