Gray, Excalibur Swallow Up 15 TV Stations In $335M Deal

Law360, New York (November 20, 2013, 1:33 PM EST) -- Broadcasting companies Gray Television Inc. and Excalibur Broadcasting LLC will partner to take over 15 network-affiliated television stations across seven markets in a $335 million cash deal, expanding Gray’s portfolio of No. 1-ranked stations, according to a Wednesday announcement.

Under the terms of the joint acquisition of the stations from Hoak Media Corp. and Parker Broadcasting Inc., the broadcasting companies will pick up stations affiliated with ABC Inc., The CW Television Network, NBCUniversal Media LLC, CBS Corp. and Fox Broadcasting Co., as well as their employees,...
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