Media M&A » By The Online Investor Staff, updated Thu., May. 9, 2:09 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 multimedia company. Co. is an owner of local television stations and digital assets in the U.S. Co.'s television stations serve 113 television markets. Co. also owns video program companies, Raycom Sports, Tupelo Honey, PowerNation Studios and Third Rail Studios. Co. has investments in several television, production and technology companies. Co. has two types of syndicated television program contracts: first run programs and off network reruns. First run programs are programs such as Wheel of Fortune and off network reruns are programs such as The Big Bang Theory.
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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: |
29 |
Total Market Value Held by ETFs: |
$52.80M |
Total Market Capitalization: |
$581.00M |
% of Market Cap. Held by ETFs: |
9.09% |
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May 9, 2024 2:09 AM Eastern
Buy (2.80 out of 4)
18th percentile
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