Gray Television Closes Quincy Acquisition globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
ATLANTA, July 14, 2021 /PRNewswire/ Â Gray Television, Inc. (
Gray ) (NYSE: GTN)Â has reached an agreement to divest WJRT-TV, its ABC affiliate for the Flint-Saginaw, Michigan, television market, to Byron Allen s Allen Media Broadcasting, LLC (
Allen Media ) for $70 million dollars in cash. Â
Gray s sale of WJRT-TV facilitates regulatory approvals for its pending acquisition of the Local Media Group division of Meredith Corporation (
Meredith ) by removing the only market overlap between the respective television station portfolios of Gray and Meredith. The closing for the sale of WJRT-TV is expected to occur in the third or fourth quarter of 2021 prior to the closing of the Gray/Meredith transaction and is subject to customary closing conditions. WJRT-TV General Manager Pete Veto will remain with Gray after the closing of this sale in a new position that Gray will announce at a later date.
(Image credit: Entertainment Studios)
ATLANTA, Ga. Gray Television, Inc. has reached an agreement to divest WJRT-TV, its ABC affiliate for the Flint-Saginaw, Michigan, television market, to Byron Allen’s Allen Media Broadcasting, LLC for $70 million dollars in cash.
Gray’s sale of WJRT-TV facilitates regulatory approvals for its pending acquisition of the Local Media Group division of Meredith Corporation by removing the only market overlap between the respective television station portfolios of Gray and Meredith, Gray noted in announcing the deal.
The closing for the sale of WJRT-TV is expected to occur in the third or fourth quarter of 2021 prior to the closing of the Gray/Meredith transaction.
BYRON ALLEN S ALLEN MEDIA BROADCASTING BUYS ABC AFFILIATE WJRT-TV IN FLINT, MICHIGAN FROM GRAY apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
Gray sells divestiture stations from Quincy Media transaction to Allen Media for $380M Earlier this year, Gray Television reached an agreement to acquire Quincy for $925 million in cash. To facilitate regulatory approvals for this transaction, Gray agreed to sell to Allen Media television stations currently owned by Quincy in markets Gray also owns and operates a television station. (Source: Gray TV) By Gray News Staff | April 29, 2021 at 1:47 PM EDT - Updated April 29 at 5:30 PM
(Gray News) - Gray Television, Inc. reached an agreement Thursday to divest certain television stations currently owned by Quincy Media, Inc. to Byron Allen’s Allen Media Broadcasting, LLC for $380 million in cash.