M&A Deal Summary

Gray Acquires Diversified Communications - Two Television Stations

On February 16, 2017, Gray acquired media company Diversified Communications - Two Television Stations from Diversified Communications for 85M USD

Acquisition Highlights
  • This is Gray’s 16th transaction in the Media sector.
  • This is Gray’s 10th largest (disclosed) transaction.
  • This is Gray’s 17th transaction in the United States.
  • This is Gray’s 1st transaction in Michigan.

M&A Deal Summary
Date 2017-02-16
Target Diversified Communications - Two Television Stations
Sector Media
Buyer(s) Gray
Sellers(s) Diversified Communications
Deal Type Divestiture
Deal Value 85M USD

Target

Diversified Communications - Two Television Stations

Portland, Michigan, United States
Diversified Communications, Inc. - Two Television Stations includes WABI (CBS/CW) in the Bangor, Maine market (DMA 156) and WCJB (ABC/CW) in the Gainesville, Florida market (DMA 161).

Search 201,771 Deals Now

SEARCH BY

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

Try For Free 7-Day Free Trial

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 17 of 21
Sector (Media) 16 of 20
Type (Divestiture) 14 of 15
State (Michigan) 1 of 1
Country (United States) 17 of 21
Year (2017) 1 of 2
Size (of disclosed) 10 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-13 Withers Broadcasting - WDTV And WVFX

Clarksburg, West Virginia, United States

Withers Broadcasting Co. - WDTV And WVFX is an operator of television stations.

Buy $27M
FOLLOWING 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

Seller(S) 1

SELLER

Diversified Communications

Portland, Michigan, United States
Category Company
Founded 1949
Sector Media
DESCRIPTION

Diversified Communications, Inc. is an international media company providing market access, education and information through global, national and regional face-to-face events, digital products, publications and television stations.

DEAL STATS #
Overall 1 of 2
Sector (Media) 1 of 1
Type (Divestiture) 1 of 2
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-22 HRM Asia Pte

Singapore, Singapore

HRM Asia Pte Ltd. is a multi-platform network providing an array of thought-leading HR discussion and information to HR professionals of all ranks in Asia-Pacific.

Sell -
Mergr

Product

Company

Legal