M&A Deal Summary

Gray Acquires Benedek Broadcasting

On June 10, 2002, Gray acquired media company Benedek Broadcasting for 500M USD

Acquisition Highlights
  • This is Gray’s 2nd transaction in the Media sector.
  • This is Gray’s 3rd largest (disclosed) transaction.
  • This is Gray’s 3rd transaction in the United States.
  • This is Gray’s 1st transaction in Illinois.

M&A Deal Summary

Date 2002-06-10
Target Benedek Broadcasting
Sector Media
Buyer(s) Gray
Deal Type Add-on Acquisition
Deal Value 500M USD
Advisor(s) BofA Securities (Financial)

Target

Benedek Broadcasting

Rockford, Illinois, United States
Benedek Broadcasting Corporation owns and operates 23 network-affiliated television stations that serve small to medium-sized markets in 24 states.

Search 214,238 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Gray

Atlanta, Georgia, United States

Category Company
Founded 1891
Sector Media
Employees9,118
Revenue 3.6B USD (2024)
DESCRIPTION

Gray is a television broadcast company that owns and/or operates television stations and major digital assets. Gray was founded in 1891 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 3 of 21
Sector: Media M&A 2 of 20
Type: Add-on Acquisition M&A Deals 1 of 5
State: Illinois M&A 1 of 1
Country: United States M&A 3 of 21
Year: 2002 M&A 1 of 2
Size (of disclosed) 3 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-14 CBS - Three Television Stations

United States

CBS affiliates KWTX, KBTX, and KXII, a satellite stations located in Bryan, Texas, each serving the 95th largest television market of Waco-Temple-Bryan, Texas.

Buy $139M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-12-18 Kolo-TV

Reno,, Nevada, United States

KOLO-TV operates on Channel 8 in the Reno, Nevada television market. KOLO-TV is a VHF television station that is affiliated with the ABC television network. KOLO-TV is the number one rated station in its market.

Buy $42M