M&A Deal Summary

Gray Acquires Kolo-TV

On December 18, 2002, Gray acquired media company Kolo-TV from Smith Television Group for 42M USD

Acquisition Highlights
  • This is Gray’s 3rd transaction in the Media sector.
  • This is Gray’s 11th largest (disclosed) transaction.
  • This is Gray’s 4th transaction in the United States.
  • This is Gray’s 1st transaction in Nevada.

M&A Deal Summary
Date 2002-12-18
Target Kolo-TV
Sector Media
Buyer(s) Gray
Sellers(s) Smith Television Group
Deal Type Divestiture
Deal Value 42M USD

Target

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.

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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 4 of 21
Sector (Media) 3 of 20
Type (Divestiture) 3 of 15
State (Nevada) 1 of 1
Country (United States) 4 of 21
Year (2002) 2 of 2
Size (of disclosed) 11 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-10 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.

Buy $500M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 KKCO-TV

Grand Junction, Colorado, United States

KKCO-TV, Channel 11 serves the Grand Junction, Colorado television market and is an NBC affiliate.

Buy $14M

Seller(S) 1

SELLER

Smith Television Group

United States
Category Company
Sector Media
DESCRIPTION

Smith Media, LLC, successor to Smith Television, was a broadcasting group co-based in Los Angeles, California and St. Petersburg, Florida, that formerly owned and operated several television stations across the United States.

DEAL STATS #
Overall 1 of 1
Sector (Media) 1 of 1
Type (Divestiture) 1 of 1
State (Nevada) 1 of 1
Country (United States) 1 of 1
Year (2002) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

Company

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