ATHENS—The Greek government said Friday it raised €246 million ($275.64 million) from a marathon three-day auction of private television broadcast licenses that was denounced by its opposition and the media industry as a power grab by the country’s ruling political party.

Four licenses were auctioned in the sale, which began early Tuesday in Athens. By the time it ended, only two of the country’s seven television stations—Skai TV and ANT1 TV—won licenses to stay on the air. The rest, who together employ some 1,700 people,...