Gray Television Buying Up more Stations

The TV station sales continue to happen and show no signs of letting up.

Gray Television announced today a series of transactions through which Gray and Excalibur Broadcasting LLC have agreed to acquire from Hoak Media and Parker Broadcasting a total of 15 network-affiliated television stations in seven markets (excluding required divestitures) for $335 million in cash, plus a working capital adjustment. 

Separately, Excalibur has agreed to acquire two Fox-affiliated television stations in one of the markets served by Hoak from Prime Cities Broadcasting, a company that is unrelated to Hoak and Parker, for $7.5 million in cash.

These transactions will significantly expand Gray's portfolio of market-leading owned and/or operated television stations in growing markets throughout the Central United States.   

All the stations involved are in small markets. Here's a list of stations involved in the deal. 

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