M&A Deal Summary

Gray Acquires Hoak Media

On June 16, 2014, Gray acquired media company Hoak Media from Blue Sage Capital for 335M USD

Acquisition Highlights
  • This is Gray’s 11th transaction in the Media sector.
  • This is Gray’s 5th largest (disclosed) transaction.
  • This is Gray’s 12th transaction in the United States.
  • This is Gray’s 1st transaction in Texas.

M&A Deal Summary

Date 2014-06-16
Target Hoak Media
Sector Media
Buyer(s) Gray
Sellers(s) Blue Sage Capital
Deal Type Add-on Acquisition
Deal Value 335M USD

Target

Hoak Media

Dallas, Texas, United States
Hoak Media Corporation is a broadcasting company focused on the acquisition, development and operation of television stations in small and medium-sized markets in the United 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 12 of 21
Sector (Media) 11 of 20
Type (Add-on Acquisition) 3 of 5
State (Texas) 1 of 1
Country (United States) 12 of 21
Year (2014) 1 of 2
Size (of disclosed) 5 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-18 KEVN

Rapid City,, South Dakota, United States

KEVN-TV serves as the Fox affiliate for the Rapid City television market. KEVN-TV's network programming, strong local newscasts, and major syndicated programming make it the number-two ranked television station in its market, according to BIA Kelsey revenue data.

Buy $8M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-15 SJL Holdings - WJRT-TV and WTVG-TV

United States

WJRT-TV and WTVG-TV are ABC-affiliated television stations serving the Flint-Saginaw-Bay City, Michigan and Toledo, Ohio television markets, respectively. Both WJRT-TV and WTVG-TV lead their local markets in all-day ratings and in most, if not all, local newscasts.

Buy $128M

Seller(S) 1

SELLER

Blue Sage Capital

Austin, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Blue Sage Capital is a private investment firm that invests in lower middle-market companies that have the potential to become market leaders. Target businesses typically generate sales of $20 to $125 million and are valued up to $125 million. Blue Sage is a generalist firm with broad industry interest. Target sectors include industrial, distribution, service, healthcare, manufacturing, energy and media. Blue Sage geographically prefers companies located in Texas and the Southwest US. Blue Sage will not invest in banks, life insurance companies, oil and gas exploration and development projects, real estate development or companies located outside of the United States. Blue Sage was formed in 2003 and is based in Austin, Texas.


DEAL STATS #
Overall 9 of 22
Sector (Media) 1 of 1
Type (Add-on Acquisition) 5 of 13
State (Texas) 5 of 8
Country (United States) 8 of 21
Year (2014) 2 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-12 MultiCam

Dallas, Texas, United States

MultiCam is a provider of mechanized cutting machine tools. The company produces a full line of cutting solutions including routers, plasma, laser, water jet, and knife cutting machines. It sells through a global network of independently-owned distributors to a diverse set of end-users. MultiCam was founded in 1989 and is based in Dallas, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-08 Mr Gatti s Pizza

Fort Worth, Texas, United States

Mr Gatti's Pizza is an operator of a chain of restaurants. Mr Gatti's Pizza was founded in 1969 and is based in Austin, Texas.

Sell -