Divestiture • Media

Gray Media Acquires Diversified Communications - Two Television Stations

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

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

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M&A Deal Summary

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

Target Company

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).
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Buyer Overview 1

Buyer

Gray Media

Atlanta, Georgia, United States

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

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


Deal Context for Buyer #
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 Co. - 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 Profile 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 Context for Seller #
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 -