Gray Television completes self-tender offer to repurchase up to $268.5 million of its outstanding 10 1/2% Senior Secured Second Lien Notes due 2015

Client(s) Gray Television, Inc.

Jones Day represented Gray Television, Inc., a television broadcasting company headquartered in Atlanta, Georgia that currently owns and operates television stations broadcasting 40 primary channels in 30 markets, in connection with its offer to repurchase up to $268.5 million of its outstanding 10 1/2% Senior Secured Second Lien Notes due 2015. BofA Merrill Lynch and Wells Fargo Securities, LLC acted as dealer managers.