Gray - M&A Summary and Business Overview

MediaCompany

Gray M&A Summary

Gray has acquired 21 companies, including 2 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 3 assets.

Gray’s largest acquisition to date was in 2018, when it acquired Raycom Media for $3.6B. It’s largest disclosed sale occurred in 2018, when it sold Gray Television - Television Stations to TEGNA for $105M. Gray has acquired in 16 different US states. The Company’s most targeted sectors include media (96%) and publishing (5%).

Gray Business Overview

Where is Gray headquartered?

Gray is headquartered in Atlanta, Georgia.

What is Gray’s revenue?

Gray disclosed revenue of 2,381M USD for 2020 and 2,122M USD for 2019.

How many employees does Gray have?

Gray has 7,017 employees.

What sector is Gray in?

Gray is a media company.

When was Gray founded?

Gray was founded in 1897.

M&A Summary

  • M&A Total Activity24
    • M&A Buy Activity21
    • M&A Sell Activity3
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 20
  • M&A Advisors 3

Gray

Gray Television, Inc.

4370 Peachtree Road, NE,
Atlanta, Georgia 30319
United States,
(404) 504-9828
www.gray.tv

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.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 19 - 2 - - - 21
vol $5.7B $2.8B $8.5B
Sell (0.4/yr) # 1 - 1 - 1 - 3
vol $105M $70M $175M
  24

Most Recent M&A

Company Date Value Type
Family Entertainment Live LLC 2023-12-11 - Trade Sale
Medina, Ohio · www.familyentertainmentlive.com
Family Entertainment Live LLC 2021-11-09 - Growth Capital
Medina, Ohio · www.familyentertainmentlive.com
Gray Television - WJRT-TV 2021-07-14 70M USD Divestiture
Flint, Michigan
Meredith Corp. - Local Media Group 2021-06-03 2.8B USD Divestiture
Des Moines, Iowa
Gray Television, Inc. - Television Stations 2018-08-20 105M USD Divestiture
Toledo, Ohio
Raycom Media, Inc. 2018-06-25 3.6B USD Add-on Acquisition
Montgomery, Alabama · www.raycommedia.com
WCAX-TV 2017-05-04 29M USD Add-on Acquisition
Burlington, Vermont · www.wcax.com
Diversified Communications, Inc. - Two Television Stations 2017-02-16 85M USD Divestiture
Portland, Michigan
Withers Broadcasting Co. - WDTV And WVFX 2016-05-13 27M USD Divestiture
Clarksburg, West Virginia
Schurz Communications - Television Stations 2016-02-16 415M USD Divestiture
, United States
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Media 20 (95%) 8.5B (100%) 3 (100%) 175M (100%)
Publishing 1 (5%) - - -
Total 21 $8.5B 3 $175M

By Geo

State/Country Buy Value Sell Value
United States 21 8.5B 3 175M
  Ohio 1 - 2 105M
  West Virginia 2 213M - -
  Indiana 2 85M - -
  Michigan 1 85M 1 70M
  Georgia 1 4M - -
  Colorado 1 14M - -
  Alabama 1 3.6B - -
  Vermont 1 29M - -
  Texas 1 335M - -
  South Dakota 1 8M - -
  Nevada 1 42M - -
  Nebraska 1 - - -
  Iowa 1 2.8B - -
  Illinois 1 500M - -
  Idaho 1 18M - -
Total 21 $8.5B 3 $175M

Top M&A Advisors

Legal Deals
Cooley LLP
3
Jones Day
2
Eversheds LLP
1

Deal Values

buy # Total
> $1B 2 $6.5B
$100M to $1B 6 $1.7B
< $100M 9 $310M
TOTAL $8.5B
Largest Raycom Media, Inc.
$3.6B (2018-06-25)
sell # Total
$100M to $1B 1 $105M
< $100M 1 $70M
TOTAL $175M
Largest Gray Television, Inc. - Television Stations
$105M (2018-08-20)

M&A Connections

Deals
Acquired from
Investor(s)
5%
1 (5%)
Strategic(s)
71%
15 (71%)
Divested to
Strategic(s)
100%
3 (100%)

 Subscribe to unlock this and 201,455
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB


Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.5K Private Equity Firms
  • 193K M&A Transactions
  • 197K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.6K M&A Advisors
    (Investment Banks and Law Firms)
  • 75K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.