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Announced

Completed

Allen Media Group completed the acquisition of WJRT-TV from Gray Television for $70m.

Financials

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Transaction Value£51m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Radio and TV Broadcasters

television stations

United States

Acquisition

Completed

Friendly

Majority

Domestic

Private

Single Bidder

Synopsis

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Allen Media Group, a media and entertainment company, completed the acquisition of WJRT-TV, the ABC affiliate for the Flint-Saginaw, Michigan, television market, from Gray Television, a television broadcasting company, for $70m. "We are delighted and very appreciative to Gray for working with us to add this wonderful local television station, WJRT-TV, and its great employees, to our fast-growing Allen Media Group family. Over the past two years, we've invested over $1 billion to acquire best-in-class, top-tier, broadcast network affiliates and we plan to invest approximately ten billion dollars to acquire more ABC, CBS, NBC, and FOX television stations with the goal of being the largest broadcast television group in America. All of our media assets will work in concert to amplify our free-streaming services, Local Now and theGrio," Byron Allen, Allen Media Group Founder, Chairman and CEO.

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