M&A Deal Summary

Gray Acquires WSAZ-TV

On August 22, 2005, Gray acquired media company WSAZ-TV from Emmis Communications for 186M USD

Acquisition Highlights
  • This is Gray’s 5th transaction in the Media sector.
  • This is Gray’s 6th largest (disclosed) transaction.
  • This is Gray’s 6th transaction in the United States.
  • This is Gray’s 1st transaction in West Virginia.

M&A Deal Summary
Date 2005-08-22
Target WSAZ-TV
Sector Media
Buyer(s) Gray
Sellers(s) Emmis Communications
Deal Type Divestiture
Deal Value 186M USD

Target

WSAZ-TV

Huntington, West Virginia, United States
website
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.

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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 6 of 21
Sector (Media) 5 of 20
Type (Divestiture) 5 of 15
State (West Virginia) 1 of 2
Country (United States) 6 of 21
Year (2005) 2 of 4
Size (of disclosed) 6 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 KKCO-TV

Grand Junction, Colorado, United States

KKCO-TV, Channel 11 serves the Grand Junction, Colorado television market and is an NBC affiliate.

Buy $14M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-10 WVAG-TV

Moultrie, Georgia, United States

WVAG-TV is the UPN affiliate serving the Albany, Georgia television market and the nation's 147th largest Designated Market Area with approximately 150,000 television households.

Buy $4M

Seller(S) 1

SELLER

Emmis Communications

Indianapolis, Indiana, United States

website

Category Company
Founded 1980
Sector Media
Employees234
Revenue 40M USD (2020)
DESCRIPTION
Entrance to Emmis Communications' corporate headquarters in Indianapolis, Indiana.
Entrance to Emmis Communications' corporate headquarters in Indianapolis, Indiana.

Emmis Communications is a diversified media company, principally focused on radio broadcasting. Emmis owns radio stations in New York, Los Angeles, St. Louis, Austin, Indianapolis and Terre Haute. Emmis also develops and licenses TagStation, a cloud-based software platform that allows a broadcaster to manage album art, meta data and enhanced advertising on its various broadcasts, and developed NextRadio, a smartphone application that marries over-the-air FM radio broadcasts with visual and interactive features on smartphones. In addition to radio properties, Emmis publishes several city and regional magazines. Emmis Communications was incorporated in 1980 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 1 of 6
Sector (Media) 1 of 5
Type (Divestiture) 1 of 6
State (West Virginia) 1 of 1
Country (United States) 1 of 6
Year (2005) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-01 Emmis Austin Radio Broadcasting

Austin, Texas, United States

Emmis Austin Radio Broadcasting Co. LP operates six Austin radio stations and two FM translators in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-16 Digonex Technologies

Indianapolis, Indiana, United States

Digonex is a dynamic pricing company with clients including major sports teams, retailers, cultural institutions, and entertainment companies. Digonex’s automated pricing solutions make use of dozens of parameters to continuously identify the ‘sweet spot’ where prices follow perceived market value and generate maximum economic return for clients while providing fair prices for consumers.

Buy -
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