AcquisitionsMay 7, 2026, 04:39 PM
Gray Media completes $171M acquisition of Allen Media stations
AI Summary
Gray Media, Inc. announced the completion of its previously announced transactions with Allen Media Group, Inc. for a total purchase price of $171 million plus working capital adjustments. The acquisitions were completed in two phases, with the final phase closing on May 1, 2026, and were funded using the Company's available cash on hand. The company also obtained an SEC waiver for certain financial statement requirements related to the acquisition.
Key Highlights
- Gray Media completed the acquisition of Allen Media Group stations for a total of $171 million plus working capital adjustments.
- The first phase, for $56 million, closed on March 27, 2026, acquiring WTVA, WTHI, and WLFI.
- The second phase, for $115 million, closed on May 1, 2026, acquiring WAAY, WSIL, WEVV, WFFT, WCOV, WIYE, KADN, KLAF, and WREX.
- All acquisitions were funded using Gray Media's available cash on hand.
- Gray Media obtained an SEC waiver from certain financial statement requirements for the acquisition.
- The company will file an audited Statement of Assets Acquired and Liabilities Assumed within 71 days.
Price Impact
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