Gray Television to acquire the Local Media Group from Meredith for $2.86bn.

Gray Television, a media company, agreed to acquire the Local Media Group, a television station operator, from Meredith, an American media conglomerate, for $2.7bn. As part of the deal, Meredith will spin off its National Media Group, an owner of the portfolio of magazines as well as digital and marketing assets. “The television station portfolios, company cultures, and commitments to localism of Gray and Meredith are highly complementary. We are very excited to acquire Meredith’s excellent television stations, and we look forward to welcoming its employees into the Gray family. Moreover, Gray’s Board and shareholders are deeply appreciative of the tireless efforts of our team led by Kevin Latek and Jim Ryan on this transaction and our other recently announced significant transactions. Building on our successes throughout 2020 and just the first few months of 2021, Gray Television clearly has an even stronger and brighter future than ever," Hilton H. Howell, Gray Executive Chairman and CEO. On June 3, 2021; Gray Television offers to acquire the Local Media Group from Meredith for $2.86bn. On November 15, 2021, the Federal Communications Commission approved the acquisition. On November 30, 2021, Meredith shareholders approve a $2.7bn sale to Gray Television.