Gray Television, Inc. Acquires WSAZ-TV, Charleston-Huntington, West Virginia

    ATLANTA, Nov. 30 /PRNewswire-FirstCall/ -- Gray Television, Inc.
 (NYSE:   GTN and GTN.A) today announced that it has completed the acquisition of
 the assets of WSAZ-TV, the NBC affiliate in Charleston-Huntington, West
 Virginia (the Nation's 64th largest Designated Market Area) from Emmis
 Communications Corp. (Nasdaq:   EMMS).
     Bob Prather, President of Gray, said, "The acquisition of WSAZ-TV is
 consistent with the Company's strategy of acquiring dominant television
 stations.  WSAZ-TV, located in the state capital and largest city in West
 Virginia, is ranked #1 in overall share and news.  This station has a proud
 heritage of serving the local communities of Charleston, Huntington and
 surrounding areas including portions of Ohio and Kentucky."
     The purchase price was $186 million and Gray financed the purchase by
 borrowing $185 million under its senior credit facility ($150 million of term
 loan A borrowings and $35 million of revolving loan borrowings) and applying
 $1 million of cash on hand.
     Gray Television, Inc. is a television broadcast company headquartered in
 Atlanta, Georgia. Including the previously announced pending acquisition of
 WNDU-TV, Gray operates 36 television stations serving 30 markets.  Each of the
 stations are affiliated with either CBS, NBC, ABC, or FOX.  In addition, Gray
 currently operates seven digital multi-cast television channels in seven of
 its existing markets, which are affiliated with either UPN or FOX.

SOURCE Gray Television, Inc.

More by this Source

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.


PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.