Gray Television to acquire Meredith's Corporation's Local Media Group for $2.7 billion
Clients Gray Television, Inc.
Jones Day is advising Gray Television, Inc. in its $2.7 billion acquisition of Meredith Corporation’s Local Media Group, which owns 17 broadcast television stations in 12 local markets. Gray will acquire all of the outstanding shares of Meredith Corporation for approximately $14.50 per share in cash, or $2.7 billion, immediately following Meredith’s spinoff to its shareholders of the magazine, digital and marketing assets that comprise Meredith’s National Media Group. After the transaction, Gray will be the second largest television broadcast group in the U.S.