M&A Deal Summary

Gray Acquires Meredith - Local Media Group

On June 3, 2021, Gray acquired media company Meredith - Local Media Group from Meredith for 2.8B USD

Acquisition Highlights
  • This is Gray’s 19th transaction in the Media sector.
  • This is Gray’s 2nd largest (disclosed) transaction.
  • This is Gray’s 20th transaction in the United States.
  • This is Gray’s 1st transaction in Iowa.

M&A Deal Summary
Date 2021-06-03
Target Meredith - Local Media Group
Sector Media
Buyer(s) Gray
Sellers(s) Meredith
Deal Type Divestiture
Deal Value 2.8B USD

Target

Meredith - Local Media Group

Des Moines, Iowa, United States
Meredith's Local Media Group portfolio includes 17 television stations reaching 11 percent of U.S. households and 30 million viewers. Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 markets, including Atlanta, Phoenix, St. Louis, and Portland, and 13 stations in the Top 50.

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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 20 of 21
Sector (Media) 19 of 20
Type (Divestiture) 15 of 15
State (Iowa) 1 of 1
Country (United States) 20 of 21
Year (2021) 1 of 2
Size (of disclosed) 2 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-20 Gray Television - Television Stations

Toledo, Ohio, United States

Gray Television, Inc. - Television Stations includes WTOL, the CBS affiliate in Toledo, OH, and KWES, the NBC affiliate in Odessa-Midland, TX,

Sell $105M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-14 Gray Television - WJRT-TV

Flint, Michigan, United States

WJRT-TV, virtual and VHF digital channel 12, is a television station licensed to Flint, Michigan, United States, and serving the Flint/Tri-Cities television market.

Sell $70M

Seller(S) 1

SELLER

Meredith

Des Moines, Iowa, United States
Category Company
Founded 1902
Sector Media
Employees5,290
Revenue 2.8B USD (2020)
DESCRIPTION
Meredith's corporate headquarters in downtown Des Moines, Iowa.
Meredith's corporate headquarters in downtown Des Moines, Iowa.

Meredith is a media and marketing company spanning broadcast television, print, and digital. Meredith is a leader in creating content across media platforms in key consumer interest areas such as food, home, parenthood and health through well-known brands such as Better Homes and Gardens, Parents and Allrecipes. Meredith was formed in 1902 and is based in Des Moines, Iowa.

DEAL STATS #
Overall 10 of 10
Sector (Media) 5 of 5
Type (Divestiture) 9 of 9
State (Iowa) 3 of 3
Country (United States) 9 of 9
Year (2021) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-24 FanSided

Nixa, Montana, United States

FanSided LLC is a sport, entertainment and lifestyle network of more than 300 websites with thriving communities. FanSided was founded in 2009 and is based in Nixa, Montana.

Sell -
Mergr

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