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.

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Buyer(S) 1

Buyer

Gray

Atlanta, Georgia, United States
Category Company
Founded 1897
Sector Media
Employees9,374
Revenue 3.3B USD (2023)
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 3 of 21
Sector (Media) 2 of 20
Type (Add-on Acquisition) 1 of 5
State (Illinois) 1 of 1
Country (United States) 3 of 21
Year (2002) 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
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