M&A Deal Summary

Gray Acquires Raycom Media

On June 25, 2018, Gray acquired media company Raycom Media for 3.6B USD

Acquisition Highlights
  • This is Gray’s 18th transaction in the Media sector.
  • This is Gray’s largest (disclosed) transaction.
  • This is Gray’s 19th transaction in the United States.
  • This is Gray’s 1st transaction in Alabama.

M&A Deal Summary
Date 2018-06-25
Target Raycom Media
Sector Media
Buyer(s) Gray
Deal Type Add-on Acquisition
Deal Value 3.6B USD
Advisor(s) Stonebridge Associates LLC (Financial)
Robinson Bradshaw
Covington & Burling (Legal)

Target

Raycom Media

Montgomery, Alabama, United States
website
Raycom Media, Inc. is a privately-owned local media companies and owns and/or provides services for 65 television stations and 2 radio stations in 44 markets located in 20 states. Raycom Media owns or provides services for stations covering 16% of U.S. television households and employs over 8,300 individuals in full and part-time positions. Raycom Media was founded in 1996 and is based in Montgomery, Alabama.

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Buyer(S) 1

Buyer

Gray

Atlanta, Georgia, United States

website

Category Company
Founded 1897
Sector Media
Employees7,017
Revenue 2.4B USD (2020)
DESCRIPTION

Gray is a television broadcast company that owns and/or operates television stations and major digital assets. Gray was founded in 1897 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 19 of 21
Sector (Media) 18 of 20
Type (Add-on Acquisition) 5 of 5
State (Alabama) 1 of 1
Country (United States) 19 of 21
Year (2018) 1 of 1
Size (of disclosed) 1 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-04 WCAX-TV

Burlington, Vermont, United States

WCAX-TV is available in wide-screen high-definition. WCAX-TV takes pride in ability to keep pace with the increasingly complex technological advances being made in television today. From the early days of black and white to our full-color conversion in 1969, WCAX-TV has been the leader in the local marketplace for utilizing current technology to serve viewers.

Buy $29M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-20 Gray Television - Television Stations

Toledo, Ohio, United States

Gray Television, Inc. - Television Stations includes WTOL, the CBS affiliate in Toledo, OH, and KWES, the NBC affiliate in Odessa-Midland, TX,

Sell $105M
Mergr

Product

Company

Legal