Gray Television issues $375 million of Senior Notes in Rule 144A and Regulation S offering

Client(s) Gray Television, Inc.

Jones Day advised Gray Television, Inc., a television broadcasting company headquartered in Atlanta, Georgia, that owns and operates television stations in 31 television markets, in connection with its issuance of $375 million aggregate principal amount of 7.500% Senior Notes due 2020 in a Rule 144A and Regulation S offering. Wells Fargo Securities, LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated; and RBC Capital Markets, LLC acted as joint book-running managers for the offering.