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Wednesday, November 20, 2013

BRIEF-Gray and Excalibur to purchase 15 network-affiliated television stations, (NYSE: GRAM), (NYSE: GTN)

Gray Television Inc : * Gray and excalibur to acquire stations from hoak media, parker broadcasting, and prime cities broadcasting * Deal valued at $335 million * Agreed to purchase from hoak media and parker broadcasting a total of 15network-affiliated television stations in seven markets * Says Gray expects that the transactions will be immediately accretive togray's free cash flow * Gray and excalibur expect to finance respective transactions with new termloans, cash on hand and/or by accessing capital markets * Source text for Eikon * Further company coverage

Shares of GRAM remained unchanged at $20.06. In the past year, the shares have traded as low as $18.31 and as high as $22.14. On average, 99603 shares of GRAM exchange hands on a given day and today's volume is recorded at 0.

Gray Television, Inc. (Gray), is a television broadcast company. Shares of GTN remained unchanged at $9.41. In the past year, the shares have traded as low as $1.99 and as high as $10.68. On average, 728320 shares of GTN exchange hands on a given day and today's volume is recorded at 1824.



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