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Media M&A image Media M&A » By The Online Investor Staff, updated Thu., Jul. 2, 10:32 AM Recent mergers and acquisitions in the Media M&A category.

Slide #62. Gray Television, Inc. Stations From Hoak Media, Parker Broadcasting, And Prime Cities Broadcasting

Acquirer: Gray Television, Inc. (NYSE:GTN)
Acquiree: Stations From Hoak Media, Parker Broadcasting, And Prime Cities Broadcasting
Details: Gray Television, Inc. ("Gray" or "we" or "our") (NYSE: GTN and GTN.A) announced today a series of transactions through which Gray and Excalibur Broadcasting, LLC ("Excalibur") have agreed to acquire from Hoak Media, LLC ("Hoak") and Parker Broadcasting, Inc. ("Parker") a total of 15 network-affiliated television stations in seven markets (excluding required divestitures) for $335.0 million in cash, plus a working capital adjustment. Separately, Excalibur has agreed to acquire two Fox-affiliated television stations in one of the markets served by Hoak from Prime Cities Broadcasting, Inc. ("Prime Cities"), a company that is unrelated to Hoak and Parker, for $7.5 million in cash. These transactions will significantly expand Gray's portfolio of market-leading owned and/or operated television stations in growing markets throughout the Central United States.

Gray Television is a holding company. Through its subsidiaries, Co. is a television broadcast company that owns television stations and digital assets. Co. owns and/or operates television stations in various television markets. Co. also owns video program production, marketing, and digital businesses including Raycom Sports, Tupelo-Raycom, and RTM Studios, the producer of PowerNation programs and content. In addition, Co.'s secondary channels are affiliated with various smaller networks and program services including, among others, the CW Network or the CW Plus Network, MY Network, and the MeTV Network. Co. also broadcasts independent and local news/weather channels in some markets.

GTN SEC Filing Email Alerts Service


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Company Name: 
Gray Television Inc
Stock buyback: 
GTN buyback
Website: 
www.gray.tv
Sector: 
Television & Radio
Number of ETFs Holding GTN: 
26
Total Market Value Held by ETFs: 
$104.27M
Total Market Capitalization: 
$1.29B
% of Market Cap. Held by ETFs: 
8.10%
 

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